In 2026, licenses will become a new arena for competition in fintech. While companies previously sought to grow faster than regulators, the strongest players are now betting on the opposite — obtaining banking and payment licenses to scale and launch new products.
In practice, this means a shift in the very logic of the market: fintech no longer opposes traditional banks, but is gradually taking their place, while maintaining speed and product flexibility. This is why it's important today to look not only at user base growth or a company's valuation, but also at its regulatory profile — it increasingly determines who will be able to reach the next level.
This selection features rapidly developing companies that are already using licenses as a growth tool and setting the direction for the entire industry.
Revolut
In 2026, Revolut can finally cement its status as a regulated bank. Its UK banking license allows the company to launch credit products and offer deposit protection — two key elements previously lacking to compete with traditional banks.
The company has already begun scaling this model beyond Europe. The launch of banking operations in Mexico is not just a geographic expansion, but a test of a new strategy: entering emerging markets with a full-fledged banking stack, including accounts, cards, and credit products.
In 2026, the market expects Revolut to strengthen its focus on monetization: expanding lending, including through BNPL and in-app credit lines, and increasing its share of revenue from investment services. The key question is whether the company can maintain a balance between loan portfolio growth and risk in a high-interest environment.
UR
In today's fast-moving fintech industry, only a few projects rethink financial infrastructure from scratch. One of them is UR — a licensed on-chain banking platform designed to connect digital assets, including stablecoins, with real-world finance. Operated under the supervision of Swiss fintech institution SR Saphirstein AG and regulated by FINMA, UR represents a next-generation, compliant blockchain-based financial infrastructure.
Through this infrastructure, companies can offer their clients digital products such as on-chain bank accounts, 1:1 USD–USDC on- and off-ramps, and card issuance — all embedded directly into their apps. This allows users to access financial services like IBAN accounts without leaving the platform they use. At the same time, UR preserves self-custody of digital assets while enabling traditional banking functionality, including SEPA and SWIFT transfers, multicurrency accounts, and Mastercard payments.
Aurum Foundation
Aurum Foundation sits somewhere between a trading platform and a financial infrastructure play. The Hong Kong-registered company — incorporated under the Companies Ordinance (Chapter 622) — has built its stack around AI-driven systems rather than the conventional banking-first approach most fintechs default to.
The product range is broad: algorithmic trading bots, flash loans, a crypto exchange, Neo-Bank, payment cards, and an ecosystem token. It also holds a commercial license in Dubai, extending its regulatory footprint beyond Asia.
The underlying logic is straightforward: take human judgment out of the trading equation, and you remove a significant source of error. Aurum team frequently talks about how AI is reshaping the way finance works at a structural level — not just at the edges.
Clapp Finance
Clapp Finance blurs the boundaries between banking and crypto services, focusing on transparent terms and liquidity without strict locks on funds. Registered as a Digital Asset Service Provider in El Salvador and a Virtual Asset Service Provider in the Czech Republic, the company operates within the regulated landscape of multiple jurisdictions.
Clapp Finance's model is built around three pillars: savings, lending, and asset management. Users are offered flexible crypto accounts with daily interest accrual and full liquidity, as well as fixed deposits with a predetermined rate. For borrowers, crypto-backed credit lines provide access to fiat or stablecoin liquidity without selling assets, with rates as low as 0% at LTV below 20%. Special attention is paid to integration with the traditional financial system though features like personal IBAN accounts.
Zilch
Zilch is pursuing a more aggressive strategy: acquiring licenses rather than obtaining them. The bank acquisition granted the company access to a European banking license, reducing its time to market from several years to just a few months.
Unlike traditional BNPL services, Zilch focuses on the "pay now, pay later" model, in which some transactions are made without credit. This reduces regulatory pressure while simultaneously increasing transparency for users — a key factor amid tightening regulations in the UK and EU.
In 2026, the company will likely develop a hybrid model between BNPL and banking products. This includes the launch of debit solutions with built-in credit limits and closer integration with retailers. Essentially, Zilch is attempting to occupy a niche between a payment service and a bank — a segment that remains underserved.
