Neobanks that hold their own banking licence
short answer127 of the 368 neobanks tracked here are licensed banks. These hold a banking licence or charter in their own name, so deposits sit on their own balance sheet and the national deposit-insurance scheme applies directly. The largest by disclosed users are WeBank, Nubank, bKash, PicPay and Revolut; all 127 are listed below with custody, licence and geography.
These hold a banking licence or charter in their own name, so deposits sit on their own balance sheet and the national deposit-insurance scheme applies directly. This is the strongest structure on offer — the app you use and the institution holding your money are the same legal entity.
All 127 licensed banks
| neobank | type | hq | custody | licence / structure | reported users |
|---|---|---|---|---|---|
| WeBank | traditional | Shenzhen, CN | Custodial | Private bank licence (CN) | 400M customers (2024) |
| Nubank | traditional | São Paulo, BR | Custodial | Bank licences BR/MX/CO; conditional US OCC approval (2026) | 131M customers (2025) |
| bKash | traditional | Dhaka, BD | Custodial | MFS licence (Bangladesh Bank) | 70M users (2024) |
| PicPay | traditional | São Paulo, BR | Custodial | Payment institution + bank (BCB) | 58M users (2024) |
| Revolut | hybrid | London, UK | Custodial | UK banking licence (2024); EU licence (Lithuania) | 50M customers (2025) |
| Banco Inter | traditional | Belo Horizonte, BR | Custodial | Bank; Public (INTR) | 35M clients (2025) |
| PagBank | traditional | São Paulo, BR | Custodial | Bank; Public (PAGS) | 32M clients (2024) |
| Maya | traditional | Manila, PH | Custodial | PH digital bank + EMI + VASP | 30M users (2024) |
| KakaoBank | traditional | Seongnam, KR | Custodial | Internet-only bank licence (KR) | 23M customers (2024) |
| Nequi | traditional | Medellín, CO | Custodial | Licensed compañía de financiamiento (Superfinanciera Colombia); spun out of Bancolombia's banking licence | 20M users (2024) |
| Monzo | traditional | London, UK | Custodial | UK banking licence | 12M customers (2025) |
| TymeBank | traditional | Johannesburg, ZA | Custodial | SA banking licence | 10M customers (2024) |
| AEON Bank | traditional | Kuala Lumpur, MY | Custodial | Islamic digital bank licence (BNM) | — |
| Airtel Payments Bank | traditional | Delhi, IN | Custodial | Payments bank licence (RBI) | — |
| ALAT by Wema | traditional | Lagos, NG | Custodial | Bank (Wema Bank) | — |
| albo | traditional | Mexico City, MX | Custodial | IFPE licence (CNBV, Mexico, 2022) — e-money institution under Ley Fintech | — |
| Allica Bank | traditional | Milton Keynes, UK | Custodial | Full UK banking licence (PRA/FCA authorised) | — |
| Allo Bank | traditional | Jakarta, ID | Custodial | Bank (OJK); CT Corp | — |
| Ally Bank | traditional | Detroit, US | Custodial | National bank charter | — |
| Alpian | traditional | Geneva, CH | Custodial | Swiss banking licence | — |
| ANEXT Bank | traditional | Singapore, SG | Custodial | Digital wholesale bank (MAS) | — |
| Atom Bank | traditional | Durham, UK | Custodial | UK banking licence | — |
| Bank Jago | traditional | Jakarta, ID | Custodial | Bank (OJK); GoTo ecosystem | — |
| Bank Zero | traditional | Johannesburg, ZA | Custodial | Mutual bank licence (SA) | — |
| Bitso | hybrid | Mexico City, MX | Custodial | IFPE (MX) + regional VASP licences | — |
| Blu by BCA | traditional | Jakarta, ID | Custodial | Bank (BCA Digital) | — |
| Boost Bank | traditional | Kuala Lumpur, MY | Custodial | Digital bank licence (BNM); Axiata | — |
| BoursoBank | traditional | Paris, FR | Custodial | Bank (Société Générale) | — |
| Branch Intl | traditional | Nairobi/Lagos | Custodial | Microfinance bank licence in Kenya (84.9% of Century MFB, CBK-approved 2022); digital lending in NG/IN | — |
| Brubank | traditional | Buenos Aires, AR | Custodial | Bank licence (BCRA) | — |
| buddybank | traditional | Milan, IT | Custodial | UniCredit S.p.A. digital service — operates under UniCredit's Italian banking licence (ECB supervised) | — |
| bunq | traditional | Amsterdam, NL | Custodial | Dutch banking licence | — |
| C6 Bank | traditional | São Paulo, BR | Custodial | Bank licence (BCB) | — |
| Carbon | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| Cuenca | traditional | Mexico City, MX | Custodial | IFPE licence (CNBV, Mexico, 2021) under Ley Fintech | — |
| D360 Bank | traditional | Riyadh, SA | Custodial | Digital bank licence (SAMA); PIF-backed | — |
| Daviplata | traditional | Bogotá, CO | Custodial | Operates under Banco Davivienda's Colombian banking licence (SFC-supervised) | — |
| Discovery Bank | traditional | Johannesburg, ZA | Custodial | SA banking licence | — |
| Enpara | traditional | Istanbul, TR | Custodial | Bank (QNB Finansbank) | — |
| EQ Bank | traditional | Toronto, CA | Custodial | Trade name of Equitable Bank, Schedule I chartered bank (OSFI, Canada); CDIC member | — |
| FairMoney | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| Fasset | hybrid | Dubai, AE | Custodial | VARA VASP licence (Dubai, broker-dealer); provisional Islamic digital-bank licence in Malaysia | — |
| First Women's Bank | traditional | Chicago, US | Custodial | National bank charter | — |
| Fondeadora | traditional | Mexico City, MX | Custodial | SOFIPO licence (Fondea Technologies S.F.P., CNBV Mexico, ex-Apoyo Múltiple); Prosofipo deposit insurance | — |
| Fortuneo | traditional | Brest, FR | Custodial | Crédit Mutuel Arkéa banking licence (ACPR, France); brand of the group's online bank | — |
| GoTyme Bank | traditional | Manila, PH | Custodial | PH digital bank licence (Tyme x Gokongwei) | — |
| Grasshopper | traditional | New York, US | Custodial | National bank charter (de novo 2019) | — |
| GXBank | traditional | Kuala Lumpur, MY | Custodial | Digital bank licence (BNM); Grab-led | — |
| GXS Bank | traditional | Singapore, SG | Custodial | Digital full bank (MAS) | — |
| Hello bank! | traditional | Paris, FR | Custodial | Operates under BNP Paribas' French banking licence (direct-bank brand) | — |
| Hey Banco | traditional | Monterrey, MX | Custodial | Own Mexican banking licence (CNBV banca múltiple); independent of Banregio since Jan 2026 | — |
| ila Bank | traditional | Manama, BH | Custodial | Bank (ABC Group) | — |
| imagin | traditional | Barcelona, ES | Custodial | Operates under CaixaBank's Spanish banking licence (ECB/Bank of Spain supervised) | — |
| indó | traditional | Reykjavík, IS | Custodial | Icelandic banking licence | — |
| isybank | traditional | Milan, IT | Custodial | Own Italian banking licence (Intesa Sanpaolo group; ECB/Banca d'Italia supervised) | — |
| Jenius | traditional | Jakarta, ID | Custodial | Bank (BTPN/SMBC) | — |
| Jio Payments Bank | traditional | Mumbai, IN | Custodial | Payments bank licence (RBI) | — |
| Judo Bank | traditional | Melbourne, AU | Custodial | ADI licence | — |
| K bank | traditional | Seoul, KR | Custodial | Internet-only bank licence (KT-led) | — |
| Kaspi | traditional | Almaty, KZ | Custodial | Kazakh banking licence | — |
| Klar | traditional | Mexico City, MX | Custodial | SOFIPO licence (CNBV, Mexico); acquiring Bineo for its bank licence, approvals pending | — |
| Klarna | traditional | Stockholm, SE | Custodial | Swedish banking licence | — |
| Kroo | traditional | London, UK | Custodial | UK banking licence | — |
| Kuda | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| LINE Bank TW | traditional | Taipei, TW | Custodial | Virtual bank licence (TW FSC) | — |
| Liv. | traditional | Dubai, AE | Custodial | Operates under Emirates NBD's banking licence (CBUAE) as its digital bank | — |
| Lulo Bank | traditional | Bogotá, CO | Custodial | Bank licence (CO) | — |
| Lunar | traditional | Aarhus, DK | Custodial | Danish banking licence | — |
| Marcus | traditional | New York, US | Custodial | Goldman Sachs Bank USA national bank charter (OCC); Member FDIC | — |
| MariBank | traditional | Singapore, SG | Custodial | Digital full bank (MAS) | — |
| Mashreq Neo | traditional | Dubai, AE | Custodial | Bank (Mashreq) | — |
| Minna Bank | traditional | Fukuoka, JP | Custodial | Bank licence (JP) | — |
| MNT-Halan | traditional | Cairo, EG | Custodial | Microfinance and consumer finance licences (FRA, Egypt); e-payments arm licensed by CBE | — |
| Mox Bank | traditional | Hong Kong, HK | Custodial | HK virtual bank (StanChart JV) | — |
| MYbank | traditional | Hangzhou, CN | Custodial | Private bank licence (CN) | — |
| MyInvestor | traditional | Madrid, ES | Custodial | Own Spanish banking licence (MyInvestor Banco S.A., Banco de España no. 1544; Andbank group); CNMV supervised | — |
| N26 | traditional | Berlin, DE | Custodial | German banking licence | — |
| Nagad | traditional | Dhaka, BD | Custodial | Mobile money licence (Bangladesh Bank MFS, with Bangladesh Post Office); 2024 digital-bank licence under review | — |
| Naranja X | traditional | Córdoba, AR | Custodial | Bank (Grupo Galicia) | — |
| NEXT Bank | traditional | Taipei, TW | Custodial | Virtual bank licence (TW FSC) | — |
| Northmill | traditional | Stockholm, SE | Custodial | Swedish banking licence (Finansinspektionen, since 2019) | — |
| OakNorth | traditional | London, UK | Custodial | Full UK banking licence (PRA/FCA, 2015) | — |
| One Zero | traditional | Tel Aviv, IL | Custodial | Israeli banking licence | — |
| Openbank | traditional | Madrid, ES | Custodial | Full banking licence within Santander Group (ECB/Bank of Spain); US via Santander Bank N.A. | — |
| Panacea Financial | traditional | Little Rock, US | Custodial | Division of Primis Bank (NASDAQ: FRST) — operates under Primis's US bank charter; FDIC-insured | — |
| PayPay Bank | traditional | Tokyo, JP | Custodial | Bank (JP); SoftBank ecosystem | — |
| Plata | traditional | Mexico City, MX | Custodial | Full Mexican bank licence (Banco Plata, Mar 2026); Colombia Compañía de Financiamiento authorized | — |
| Qik | traditional | Santo Domingo, DO | Custodial | Full banking licence (banco múltiple, Dominican Republic, Oct 2022; Grupo Popular) | — |
| Rakuten Bank | traditional | Tokyo, JP | Custodial | Bank; Public (JP) | — |
| RappiPay | traditional | Bogotá, CO | Custodial | Finance company charter (compania de financiamiento, SFC Colombia, 2022); Rappi-Davivienda JV; Fogafin-insured | — |
| Rocker | traditional | Stockholm, SE | Custodial | Operates under Bankaktiebolaget Nordiska's Swedish banking licence (Finansinspektionen); own PI licence returned Sep 2025 | — |
| Ryt Bank | traditional | Kuala Lumpur, MY | Custodial | Digital bank licence (BNM) | — |
| Salt Bank | traditional | Bucharest, RO | Custodial | Bank (Banca Transilvania) | — |
| SeaBank | traditional | Jakarta, ID | Custodial | Bank (OJK); Sea Group | — |
| slice | traditional | Bengaluru, IN | Custodial | Small finance bank (via NESFB merger) | — |
| Snappi | traditional | Athens, GR | Custodial | Full ECB banking licence (via Bank of Greece, Jun 2024); Piraeus-backed digital bank | — |
| SoFi | traditional | San Francisco, US | Custodial | National bank charter (2022) | — |
| Sparkle | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| Starling Bank | traditional | London, UK | Custodial | UK banking licence | — |
| STC Bank | traditional | Riyadh, SA | Custodial | Digital bank licence (SAMA) | — |
| Stori | traditional | Mexico City, MX | Custodial | Sofipo (MX) | — |
| Superbank | traditional | Jakarta, ID | Custodial | Bank (OJK); Grab/Emtek/Singtel | — |
| T-Bank | traditional | Moscow, RU | Custodial | Russian banking licence | — |
| Tandem Bank | traditional | London, UK | Custodial | UK banking licence | — |
| TBC UZ | traditional | Tashkent, UZ | Custodial | Bank (TBC Group) | — |
| TNEX | traditional | Hanoi, VN | Custodial | Operates under Maritime Bank's (Vietnam) banking licence as its digital bank | — |
| Tonik | traditional | Manila, PH | Custodial | PH digital bank licence | — |
| Toss Bank | traditional | Seoul, KR | Custodial | Internet-only bank licence (KR) | — |
| Trade Republic | traditional | Berlin, DE | Custodial | German full banking licence (2023) | — |
| Trust Bank | traditional | Singapore, SG | Custodial | Bank (StanChart x FairPrice) | — |
| Ualá | traditional | Buenos Aires, AR | Custodial | Bank licences (AR via Wilobank, MX via ABC Capital) | — |
| ueno bank | traditional | Asunción, PY | Custodial | Bank licence (PY) | — |
| UnionDigital | traditional | Manila, PH | Custodial | PH digital bank licence | — |
| UNO Digital Bank | traditional | Manila, PH | Custodial | PH digital bank licence | — |
| UR | hybrid | — | Custodial | Swiss fintech banking licence (Art. 1b Banking Act, FINMA; SR Saphirstein AG); tokenized deposits | — |
| Uzum | traditional | Tashkent, UZ | Custodial | Bank licence (UZ) | — |
| Varo | traditional | San Francisco, US | Custodial | National bank charter (2020) | — |
| Vision Bank | traditional | Riyadh, SA | Custodial | Full Saudi digital bank licence (SAMA); full operations approved Sep 2025 | — |
| WeLab Bank | traditional | Hong Kong, HK | Custodial | HK virtual bank | — |
| Weyay | traditional | Kuwait City, KW | Custodial | Bank (NBK) | — |
| Wio Bank | traditional | Abu Dhabi, AE | Custodial | UAE banking licence | — |
| Xapo Bank | hybrid | Gibraltar | Custodial | Gibraltar banking licence | — |
| ZA Bank | traditional | Hong Kong, HK | Custodial | HK virtual bank; SFC-aligned crypto services | — |
| Zak | traditional | Basel, CH | Custodial | Operates under Bank Cler's Swiss banking licence (FINMA) | — |
| Zand | traditional | Dubai, AE | Custodial | UAE banking licence | — |
| Zempler Bank | traditional | London, UK | Custodial | Full UK banking licence (PRA/FCA, Feb 2021, ex-Cashplus); FSCS-protected | — |
| Zopa Bank | traditional | London, UK | Custodial | UK banking licence (2020) | — |
Common questions
Neobanks that hold their own banking licence: how many are there?
127 of the 368 neobanks tracked here are licensed banks. Every entry is verified active and listed on this page with its custody model, licence detail and the regions it serves.
Which are the biggest licensed banks?
By self-reported users, WeBank, Nubank, bKash, PicPay and Revolut. Only 12 of these 127 disclose a user figure, so treat any ranking by size as partial rather than complete.
What does this category actually mean?
These hold a banking licence or charter in their own name, so deposits sit on their own balance sheet and the national deposit-insurance scheme applies directly. This is the strongest structure on offer — the app you use and the institution holding your money are the same legal entity.
Related
Neobanks running on someone else’s banking licence (77) · Neobanks operating under crypto and money-transmitter licences (24) · Neobanks authorised as e-money institutions (48) · Neobanks authorised as crypto-asset service providers under MiCA (8) · Neobanks authorised as payment institutions (13) · Neobanks that never hold your money (51)
go deeperFilter these live in the interactive directory, browse every cut of the dataset, or take the raw fields from data.json.
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.