Revolut, the UK-based fintech company, has decided to abandon its plan to acquire a U.S. bank for a license and will instead apply directly for an independent banking license from U.S. regulators. The company initially considered acquiring a fully licensed U.S. bank to expedite its market expansion. However, internal assessments highlighted significant uncertainties related to maintaining physical branches and obtaining regulatory approvals, prompting Revolut to pursue a "start-from-scratch" licensing approach.