Revolut Digital Bank Gets New Name as It Eyes Israeli Market Entry
Translated & summarized from Ice by baba
British fintech firm Revolut has changed its local entity's name to "Revolut Bank Israel (in establishment) Ltd." as it moves towards entering the Israeli banking market. The company, valued at $115 billion, has been in talks with the Bank of Israel for a license since June 2025. While it has a payment services license, it still needs full banking approval. Revolut's potential entry could increase competition in Israel's profitable banking sector, though its specific services and fees for Israeli customers are yet to be determined.
The story in 5 lines · by baba
- Revolut, a fintech giant valued at $115 billion, is preparing to enter the Israeli banking market.
- The company's local entity has been renamed "Revolut Bank Israel (in establishment) Ltd."
- Revolut has been pursuing a banking license from the Bank of Israel since June 2025.
- The Israeli banking sector reported a net profit of NIS 32.3 billion in 2025.
- It remains unclear if Revolut's digital currency trading services will be available in Israel.
British fintech giant Revolut, recently valued at $115 billion, has taken another step towards entering the Israeli banking market. On November 1, the Companies Registrar approved the company's request to change the name of its local entity from "Revolut Payments Israel Ltd." to "Revolut Bank Israel (in establishment) Ltd."
Founded in 2015, Revolut began as a money transfer and currency exchange app and has since expanded into digital banking, credit, savings, and investments, serving over 80 million customers globally. Similar to Israel's digital bank One Zero, which launched in August 2022, Revolut operates on a digital model without requiring physical branch visits.
This move occurs amidst significant profitability in Israel's banking sector. In 2025, Israeli banks reported a cumulative net profit of NIS 32.3 billion, an increase of approximately 8.7% from the previous year, highlighting the economic scale of the market Revolut aims to compete in with services like payments and deposits.
Revolut began discussions with the Bank of Israel for a banking license in June 2025. In May, the Bank of Israel permitted the company to advance licensing stages, and in October, it expanded its hiring in Israel for roles in credit, risk management, compliance, and operations. Uri Nathan, former CEO of Pepper by Bank Leumi, leads the local operations. The name change signifies further preparation.
Despite the new name, Revolut has not yet received a banking license in Israel. While it holds a payment services license from the Securities Authority, it must complete the licensing process and meet the Bank of Israel's requirements to operate as a bank. No launch date for its banking operations has been announced, and Israel is not yet listed among countries where residents can open an account on the app.
Questions also surround digital currency trading. Revolut offers crypto trading services like Bitcoin and Ethereum in some markets and operates Revolut X, a dedicated crypto trading platform. It recently obtained a digital asset license in Gibraltar. It remains unclear if these services will be available to Israeli customers, pending local regulatory approval. Revolut's potential entry could expand consumer choices in currency exchange and international payments, but its competitiveness against existing banks will depend on its service terms and fees in Israel.