Revolut is in talks to acquire Turkish digital bank Fups.

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According to ME News, on January 8th (UTC+8), sources familiar with the matter revealed that fintech giant Revolut Ltd. is in talks to acquire Turkish digital bank FUPS in order to begin offering services in the country. No final decision has been made, and negotiations are ongoing. If the two banks reach an agreement, the acquisition will require approval from Turkey's banking regulator, BDDK. 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 employing around 60 people. For Revolut, the appeal of this acquisition lies primarily in Fups' regulatory status, rather than its customer base or technology. (Source: ME)

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