London-based digital bank Revolut has applied for a banking license in the United States.

London-based digital bank Revolut has applied for a banking license in the United States, taking advantage of the Trump administration's more open attitude towards new entrants into the regulated banking system in an attempt to open up the American market. The financial technology company, headquartered in London, announced on Thursday that it has applied for a national banking license from the U.S. Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation. Obtaining the license will increase the chances for this $7.5 billion-valued fintech company to enter the American market. The American market has long been an important part of Revolut's global growth strategy. Founded in 2015, Revolut currently has over 70 million customers in over 40 markets. The license will also allow Revolut to offer insured deposit services to American customers and means that it will no longer need to reach agreements with regulated partner banks to provide banking services.