Revolut Wins Conditional OCC Approval for US National Bank Charter
Highlights
- Revolut secured conditional OCC approval for its US national bank and targets operations beginning in 2027.
- The proposed bank plans checking accounts, loans, credit cards, foreign exchange services and insured deposits.
- Revolut still requires approvals from the FDIC, Federal Reserve and final clearance from the OCC.
Revolut has secured conditional approval from the US Office of the Comptroller of the Currency for a national bank charter, moving the fintech closer to its planned 2027 banking launch.
Revolut Wins Conditional OCC Approval for US Bank
Revolut received conditional OCC approval to establish a US national bank, clearing one regulatory stage before the proposed launch. The company still requires approvals from the Federal Deposit Insurance Corporation and Federal Reserve, along with final clearance from the OCC.
Revolut plans to base the bank in Stamford, Connecticut, and inject about $95 million in capital. Once operational, the bank plans to provide checking accounts, installment loans, credit cards and foreign exchange services. The company also expects the bank to offer a stablecoin.
“We’re grateful for the OCC’s open and transparent dialogue throughout this process,” Revolut US CEO Cetin Duransoy said. He added that the approval keeps the company “on track for a 2027 launch of our proposed national bank.”
Revolut Targets 2027 US Banking Launch
A fully approved charter would allow Revolut to provide banking products directly to US customers, including FDIC-insured deposits. The company currently provides banking services in the United States through Lead Bank, an FDIC member.
Revolut founder and CEO Nik Storonsky said the conditional approval provides a foundation for the company’s US expansion. The fintech currently serves more than 80 million customers worldwide as it builds regulated banking operations across several markets.
The company has also expanded its crypto services. Revolut X, its crypto exchange, supports integrations with third-party AI assistants that can help users review portfolios, analyze markets and prepare trades. Customers retain control over final orders.
Revolut Expands Banking Operations Globally
The US charter process comes as Revolut expands its banking operations outside its home market. During 2026, the company secured banking licenses in France, Australia and the UK, while also receiving a payments license in the UAE.
Revolut recently launched banking operations in Mexico and is pursuing licenses in Brazil, Colombia, Peru, Argentina and South Africa. Its French authorization also allows the company to develop locally regulated lending and savings products.
The fintech has separately started rolling out euro-backed stablecoin EURR to eligible customers in Denmark, Poland and Portugal. EURR is issued by Bridge Building S.A., a Stripe company, and initially operates on Ethereum.
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