The National Bank of Ukraine (NBU) is actively cooperating with Revolut. This non-bank intends to obtain a banking license to operate in Ukraine in compliance with the legal requirements.
Dialogue with the NBU
Deputy Governor of the NBU Dmytro Oliynyk said: “We are in dialogue with Revolut, and they have announced their intention to obtain a banking license. We are also communicating with European regulators about the need for their licensing to provide services to Ukrainian residents.” The NBU is interested in companies such as Revolut and Wise entering the Ukrainian market but emphasizes the need for compliance with Ukrainian law.
Risks for consumers
Oliynyk noted that Revolut and similar services operate through banks in other jurisdictions, which creates uncertainty about the protection of the rights of Ukrainian users. “Therefore, the further development of such services must comply with Ukrainian legislation and regulatory framework,” he emphasized. According to NBU estimates, Ukrainians have opened about 100 thousand accounts with Revolut.
Entering the market
Revolut was officially launched in Ukraine on February 11, 2025, under a license from the European Central Bank for Revolut Bank UAB (Lithuania). However, two weeks later, the NBU indicated the need for a Ukrainian license. Revolut, founded in 2015 in the UK and headquartered in London, plans to fulfill this requirement shortly.
