Bank of Israel has granted Revolut a conditional licence to set up Revolut Bank Israel (in formation). It is a major step but does not yet allow the public to open accounts or access services. Further regulatory, tech and operational milestones must still be met. No launch date has been announced. It is only the third new banking licence in Israel since 2019, after roughly 40 years with none. The previous two went to One Zero and Esh. CEO Uri Nathan said the goal is to “create genuine competition in the Israeli banking market through a digital financial services environment.” Chairman Dr Shmuel (Muli) Ben Zvi (ex-Leumi) said the team will adapt Revolut’s international experience to create a meaningful local value proposition. Bank Governor Amir Yaron travelled to London in late 2022 specifically to persuade Revolut to enter. Revolut already held a payments system code (78) and an ISA payments licence. The entity was recently renamed from Revolut Payments Israel. Earlier talks focused on a lean-bank model allowing deposits. Hiring in credit, collections, operations, compliance and ALM has accelerated, signalling preparation for deposit-taking and lending. The Supervisor of Banks has indicated deposits and securities trading, not just FX. A waitlist for Israeli numbers has been live in the app since at least June 2026. The news came from the Bank of Israel and local media, with no immediate announcement from Revolut itself.