Revolut has received conditional approval from the Office of the Comptroller of the Currency (OCC) for a U.S. national bank charter, marking a significant milestone for the U.K.-based fintech. The proposed Revolut Bank US, to be based in Stamford, Connecticut, targets a launch in the first half of 2027.
The company still requires approvals from the Federal Deposit Insurance Corporation, the Federal Reserve, and final clearance from the OCC before proceeding. Founder and CEO Nik Storonsky called the conditional approval "an important first step towards establishing the proposed Revolut Bank US."
Planned Services
Upon approval, Revolut Bank US intends to offer checking accounts, loans, credit cards, and foreign exchange services. The bank plans to expand into stablecoins and broader cryptocurrency services following launch.
Rapid Approval Process
The conditional approval came within six months, a timeframe that drew industry attention. Revolut U.S. CEO Cetin Duransoy noted the OCC's efficiency in the process. This pace contrasts with regulatory challenges faced by other fintech companies pursuing U.S. banking charters, including Wise and Bunq, which encountered setbacks in their charter efforts.
Competitive Implications
Revolut serves more than 80 million customers globally and is targeting 100 million by mid-2027. The company reported $6 billion in 2025 revenue and $2.3 billion in pre-tax profit. A U.S. banking charter would allow Revolut to move beyond its current reliance on partner banks and access federal payment infrastructure directly.
Revolut already offers bitcoin and digital-asset services across multiple markets. The charter could integrate traditional banking, cryptocurrency access, and stablecoins under a single regulated entity in the United States.
