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Revolut accelerates its expansion into Central and Eastern Europe: The regulatory logic behind the acquisition of Turkish digital bank Fups
【BlockBeats】UK fintech unicorn Revolut’s ambitions are once again on display — they are in acquisition talks with Turkey’s emerging digital bank Fups, aiming to quickly penetrate the Turkish market through this deal.
What does Fups have that attracts them? It’s not customer base or technological innovation, but the valuable license it holds. Fups, under Turkey’s 2022 launch of a branchless digital banking framework, possesses a full digital banking license, which was a scarce resource at the time. Since its establishment, the company has raised approximately $81 million, and its team is still small, with only around 60 employees.
For a multinational fintech platform like Revolut, directly acquiring a licensed local digital bank saves the effort of building from scratch and bypasses lengthy regulatory approval processes. This approach has been validated in Europe and the Asia-Pacific markets — using acquisitions to accelerate growth, licenses to build trust, and then expanding their ecosystem from this foundation. As a financial hub connecting Europe and Asia, Turkey’s market potential is significant.