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Since launching in 2015, financial upstart Revolut has become a force in Europe by offering cheap foreign exchange and a growing suite of digital banking services. Now, it plans to conquer the U.S. market—provided, that is, Americans take note of its existence.
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While Revolut's products like no-fee accounts and cash advances may prove enticing, the country is already awash in other so-called challenger banks that offer similar services. These include the likes of Chime and Varo, as well as other financial firms like Robinhood and SoFi that are quickly expanding into banking.
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