Revolut is reportedly in talks to acquire Turkish digital bank FUPS as it looks to expand its presence and secure a banking licence in the country.

The discussions follow a hiring push by the London-based FinTech to build out its Turkish operations, with licensing potentially achieved either through an application or an acquisition.

Sources told online publication Sifted that no final decision has been made, and any deal would be subject to approval by Turkey’s banking regulator.

The global giant now serves more than 70 million customers across over 40 markets, but declined to comment on the reports.