A recent interview by Nik Storonsky, CEO of Revolut, revealed his plans for a US stock market listing and taking on the country’s largest bank.
Revolut CEO, Nik Storonsky, has revealed he favours a primary public listing for the digital bank’s initial public offering (IPO).
In an interview with Bloomberg, Storonsky favours the US over its home market of the UK primarily due to the “deep liquidity of the US market”.
Storonsky has earmarked 2028 for a potential IPO and has admitted it would be highly unlikely if its public market debut would come before this.
A primary listing in the US suggests the digital bank is not willing to completely abandon the UK. A dual listing appears likely, with the fintech’s secondary listing possibly landing on the London Stock Exchange (LSE), and its primary listing likely to land on Nasdaq.
For the past several years the fintech has conducted secondary share sales to increase its valuation.
This dates back to August 2024, when Revolut’s valuation hit $45bn after a secondary share sale led by D1 Capital Partners. The most recent share sale came in July 2026 at a valuation of $115bn.
Reports suggest Revolut is targeting a pre-market valuation of $200bn by 2028 to prepare for its IPO. This could come in the form of additional investment or another secondary share sale.
Is Revolut coming for JP Morgan’s crown?
During his interview with Bloomberg, Storonsky boldly stated he wanted Revolut to “dominate” the US market.
He believes the company’s offerings of digital bank accounts, multi-currency wallets, brokerage and loyalty programmes, can compete with the likes of JP Morgan Chase and American Express (Amex).
“Our offering will be at par with Amex or JPMorgan Chase,” said Storonsky.
Revolut received conditional approval from the Office of the Comptroller of the Currency (OCC) in September 2026.
A banking licence would allow it to offer a range of products to US customers, including deposits, credit cards and lending, as well as gain more control over the infrastructure supporting payments and transfers.
“Conditional OCC approval is an important first step towards establishing the proposed Revolut Bank US,” said Storonsky at the time.
“It gives us the foundation to build in the world’s largest financial market and bring the full experience to millions of Americans.”
Revolut has an estimated one million customers in the US. It revealed in its annual financial report that 4.8 million Americans use Revolut Pay.
If the digital bank is fully operational in the US with a public listing, it could take a few years before it can equal JP Morgan Chase’s US customer base, which is approximately over 86 million customers. Americans make up 36% of Amex’s 153 million customer cardholders across the world.
