Revolut and Wells Fargo are hastening their crypto growth because regulators are opening the door to the innovation of digital assets.
The two institutions have recently declared significant advances that reflect the way to change market conditions, traditional finance, and fintech adapt to them.
Their activities indicate an increase in the drive of large financial institutions to gain a foothold in the stablecoin and digital banking industry.
The British fintech company Revolut received a complete banking license in the United Kingdom. Meanwhile, Wells Fargo also submitted a trademark application for its own branded stablecoin called WFUSD.
The events indicate that regulation is motivating the banks and fintech firms to become increasingly engaged in crypto services.
Revolut strengthens its position as a licensed bank
Revolut has been granted a license to act as a fully licensed bank in London. The Prudential Regulation Authority eased the restrictions on Revolut Bank UK Ltd. By making this decision, the company can provide current accounts and deposits that are covered by the Financial Services Compensation Scheme.
These services can now be accessed by more than 13 million customers in the United Kingdom. The approval is one of the key milestones in the long-term strategy of Revolut.
The introduction of banking was described by chief executive Nik Storonsky as one of the milestones in the company. He told him that the United Kingdom continues to be as the center of Revolut to expand globally.
The company seeks to create an international bank that incorporates digital financial services and contemporary banking services.
Francesca Carlesi, who is the chief executive of Revolut UK, said that the license allows the company to expand its financial services. The second stage will contain such products as credit as well as services already provided.
Revolut is also attempting a stablecoin program. The Financial Conduct Authority chose the company to pilot a pound-denominated stablecoin through its regulatory sandbox. This testing program was launched earlier this year, and it includes a number of participating companies.
Wells Fargo enters the stablecoin race
Another competitor, Wells Fargo, is also becoming more active in digital assets. The bank has registered a trademark application for WFUSD at the United States Patent and Trademark Office.
The trademark encompasses cryptocurrency payment, trading in digital assets, verifying blockchain, and providing wallet services. The app poses a possibility of the bank introducing a stablecoin pegged to the US dollar.
The application is based on a prior dialogue between large banks in America. Wells Fargo earlier had discussed a joint stablecoin venture with JPMorgan Chase, Bank of America, and Citigroup. The initiative will involve the use of infrastructure created by Early Warning Services, the firm that owns the Zelle payment network.
WFUSD shows that Wells Fargo might desire a distinct digital asset brand despite the joint project.
The bank is already taking growing interest in the crypto markets. Last year, it increased its bet in the BlackRock Bitcoin exchange-traded fund to over $160 million.
Regulation fuels stablecoin competition
Regulatory trends have triggered financial institutions to accelerate into the digital asset industry. In July 2025, the United States passed the GENIUS Act, which introduced new requirements in the issuance of stablecoins.
The law has been considered by many analysts as a world standard. It has impacted policy-making outside the United States.
The United Kingdom is also moving in the direction of regulatory frameworks for stablecoins and digital assets. The Financial Conduct Authority is still in consultations of stablecoins market rules. The Bank of England is developing the policies for dealing with digital assets.
Both countries are coordinating the activities of the regulators. The United States and the United Kingdom have had meetings in the Transatlantic Taskforce of Markets of the Future. These talks revolve around collaboration within the new financial technologies.
This is due to the rising stablecoin market, which reflects the heightened attention by large institutions. In 2025, the market capitalization of stablecoins reached more than $300 billion. Volumes of money transacted over the globe stood at approximately $55 trillion.
