Hassan Maishera
TL;DR
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Revolut has received conditional approval from the Office of the Comptroller of the Currency to establish a U.S. national bank.
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The company still requires approvals from the FDIC, the Federal Reserve, and final authorization from the OCC.
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Revolut expects to launch its proposed U.S. bank in 2027.
Revolut has received conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national bank.
The preliminary authorization moves the fintech company closer to directly offering banking products to American customers. However, Revolut must satisfy additional regulatory requirements before it can begin operating the proposed bank.
The company is working to secure approvals from the Federal Deposit Insurance Corporation and Federal Reserve, as well as final authorization from the OCC, according to Revolut’s announcement.
Revolut Targets 2027 U.S. Bank Launch
Revolut plans to launch its proposed American bank in 2027. If the remaining applications are approved, Revolut Bank US would provide customers with products including loans, credit cards, FDIC-insured deposits, stablecoin access, and cryptocurrency services.
A national bank charter would allow Revolut to provide more services directly rather than relying as heavily on third-party banking partners.
The company has not disclosed a more precise launch date or detailed which products would become available first.
Revolut founder and CEO Nik Storonsky described the OCC’s decision as a significant milestone for the company’s U.S. expansion.
“Conditional OCC approval is an important first step towards establishing the proposed Revolut Bank US,” Storonsky said. “It gives us the foundation to build in the world’s largest financial market and bring the full Revolut experience to millions of Americans.”
Revolut US CEO Cetin Duransoy said the company remains on schedule for the proposed bank’s 2027 launch.
Conditional approval does not guarantee that Revolut will receive a final charter. The company must demonstrate that it can satisfy capital, governance, compliance and operational requirements.
Revolut Expands Its Global Banking Footprint
Revolut has pursued banking licenses across several major markets as it seeks to evolve from a fintech application into a global banking platform.
In 2026, the company obtained banking licenses in France, Australia and the United Kingdom. It also secured a payments license in the United Arab Emirates and continued pursuing a banking license in South Africa.
In the Americas, Revolut recently launched its Mexican bank and is advancing regulatory efforts in Brazil, Colombia, Peru and Argentina.
The company serves more than 80 million customers worldwide and aims to reach 100 million by mid-2027.
Revolut’s approval comes as a growing number of cryptocurrency and technology companies seek federal banking charters.
Over the past year, the OCC has granted conditional approvals to companies including Coinbase, Paxos, BitGo, Ripple, and Circle.
In August, the regulator also granted conditional approval to World Liberty Financial, a crypto company backed by President Donald Trump’s family.
That decision attracted scrutiny from critics who raised concerns about potential conflicts of interest.
OCC Signals Openness to Financial Innovation
Comptroller of the Currency Jonathan Gould has said companies working with cryptocurrency and other emerging technologies should have a pathway to become federally supervised banks.
Since 2025, the OCC has reportedly received 40 applications for new bank charters. The regulator approved 21 and denied two, with the remaining applications still under review or otherwise unresolved.
The figures indicate that the OCC is increasingly willing to consider technology-focused banking models, provided applicants satisfy federal supervisory standards.
For Revolut, completing the remaining approval process would establish a regulated foundation for expanding its banking, payments, and digital-asset services across the U.S.
