[fumblebee]

As another commenter mentioned, for the EU many fintechs will opt to get a banking license in Lithuania.

For example, Revolut is a bank in the EU via a Lithuanian banking license, but only an "e-money institution" in the UK (though the application to become a British bank -- and for that matter, an American bank, and other jurisdictions -- is in progress).

Monzo is a UK bank, but opted to cancel their US banking application, and I don't believe is an EU bank either (someone please fact check me here!)