Revolut Ltd. is negotiating to acquire Turkish digital bank FUPS as part of its plan to commence operations in Turkey. According to Bloomberg, the deal is still under discussion and would need approval from Turkey’s banking regulator BDDK. FUPS holds a full digital banking license issued under a framework introduced in 2022, backed by $81 million in initial capital. Revolut’s interest focuses on leveraging FUPS’ regulatory status to facilitate its market entry.