Revolut, the British neobank giant, is preparing to enter the Moroccan market. The news was confirmed to Yabiladi by a candidate for a top executive position at Revolut in Morocco. With a fully digital offering and innovative services, Revolut's presence in Morocco will mark a first of its kind in the country's banking system, requiring a banking license to operate in accordance with local banking regulations. «Revolut does not expect to receive a full banking license immediately but plans to obtain one within two years of its establishment in Morocco», the same source told Yabiladi. Revolut has already started recruiting a local CEO and aims to build a «60-member team» in Morocco. «Revolut wants to start with lean operations and gradually build its presence from the ground up», the candidate said. The neobank expects to begin operations as a payment operator and scale up its operations in Morocco until it achieves a full-fledged banking status. «The company plans to analyze the market in the meantime», the source added. However, experts predict that Morocco's strict regulatory framework may necessitate a partnership with a local bank. They also suggest that Revolut's entry could disrupt the ecosystem with its no-fee services and real exchange rates, potentially putting pressure on traditional banks and payment institutions to accelerate their digital transformation. It is worth noting that Revolut has over 40 million users globally and a valuation exceeding 40 billion euros. The neobank offers a fully digital experience designed for smartphones, featuring quick account opening, international fee-free payments, multi-currency cards, trading, crypto, and budgeting tools—appealing to a young, mobile, and connected clientele. It was founded in July 2015 by British-Russian businessman Nikolay Storonsky and British-Ukrainian software engineer Vlad Yatsenko.
