Revolut to launch UK private bank with £500,000 entry

Revolut plans to open a UK private banking unit this summer with a £500,000 minimum deposit aimed at customers holding six- and seven-figure cryptocurrency positions.

The unit will sit between Revolut’s retail services and traditional private banks, offering discretionary portfolio management, access to leveraged products and private wealth advisory alongside the firm’s existing crypto infrastructure.

The Financial Conduct Authority granted Revolut Trading permission to offer leveraged instruments, discretionary portfolio management and other sophisticated investment services in the UK.

Revolut’s UK banking license, granted in March 2026, provides deposit protection under the Financial Services Compensation Scheme up to £120,000 per client. The firm also holds a Markets in Crypto Assets (MiCA) license obtained via Cyprus that permits passported crypto services across 30 European Economic Area markets.

Revolut operates a pro exchange, Revolut X, listing more than 250 tokens with zero maker fees, API access, TradingView charts and deep liquidity for active traders. More than 10 million customers hold or trade crypto on the app.

The company’s wealth division reported revenue of $876 million in 2025, a 31% increase year on year. The crypto segment grew almost 300% in 2024 before returning to more normalized growth.

The £500,000 entry point is lower than minimums at some established private banks: Coutts recently set a £3 million threshold and UBS typically requires £1 million in investable assets. Revolut’s offering would allow clients to keep assets within the app while accessing institutional-style trading tools, staking exposure and managed portfolios.

Regulatory treatment of leveraged crypto exposure inside a regulated private banking framework will affect how widely the model can be deployed. The company has indicated plans to expand beyond the UK and is aligning the launch ahead of a potential Nasdaq listing as soon as 2028, with reported valuation targets of $150 billion to $200 billion.

Regulators and market participants expect the next 12 months to clarify whether similar private banking units can be rolled out across Europe under MiCA permissions and national rules.