Revolut Initiates Talks to Acquire Turkish Digital Bank Fups

Odaily News British fintech company Revolut is in acquisition talks with Turkish digital bank Fups, aiming to accelerate its entry into the Turkish financial market. Fups holds a full digital banking license under Turkey's branchless banking framework launched in 2022, with initial capital of approximately $81 million and currently employs around 60 people. It is reported that the main appeal of this acquisition for Revolut lies in Fups' regulatory status, rather than its customer base or technology. (Bloomberg)