Revolut Reportedly in Talks to Acquire Turkish Digital Bank Fups to Expand Market Presence

Source: CryptoNewsNet Original Title: World Giant That Also Operates a Cryptocurrency Exchange Reportedly to Enter Turkish Market by Acquiring a Bank in Turkey Original Link: Revolut, the UK-based global fintech giant, is reportedly considering acquiring Fups, a fully digital bank operating under Turkey’s branchless banking regulations, to accelerate its market entry into Turkey.

According to sources, discussions between the two companies are in early stages, with no final decision made. If an agreement is reached, the acquisition would require approval from Turkey’s Banking Regulation and Supervision Agency (BDDK). Both Revolut and Fups declined to comment on the talks, citing company policy regarding market speculation.

Company Background

Revolut, led by billionaire Nik Storonsky, serves approximately 70 million customers worldwide and reached a $75 billion valuation in November, solidifying its position among Europe’s most valuable startups. The company has recently accelerated its geographic expansion strategy, entering markets from the Nordic countries to Mexico.

Fups, founded in 2022, is one of Turkey’s digital banks holding a fully digital banking license under the branchless banking framework. The company operates with approximately $81 million in initial capital and employs around 60 people, with its competitive advantage rooted in its strong regulatory status.

Market Analysis

According to Bloomberg Intelligence analyst Tomasz Noetzel, Revolut’s potential entry into Turkey is strategically logical and would further intensify competition in a market currently dominated by digitally advanced but branch-network-dependent banks. Noetzel emphasized that successful execution requiring real differentiation beyond price and basic user experience will be critical for the acquisition’s success.

This is not investment advice.