Global financial technology firm Revolut has officially received a full Australian banking licence, allowing it to operate as Revolut Bank Australia. The Australian Prudential Regulation Authority (APRA) granted the Authorised Deposit-taking Institution licence, marking a significant step for the company’s expansion in the region. This move solidifies Revolut’s presence across the Tasman Sea, building upon its existing operations in New Zealand. The licence enables Revolut to provide a broader range of banking services to Australian customers. This development signals growing competition within the Australian banking sector from innovative fintech companies. It also demonstrates APRA’s increasing openness to licensing non-traditional financial institutions. The company expects to announce further details regarding new services soon.