Revolut plans to begin operating its US bank next year, says its new US boss, and is gearing up to offer customers FDIC-insured deposits, credit products, and access to cryptocurrencies.
Revolut, Europe’s most valuable private company, valued at $75bn, applied for a US banking licence in March this year, as it looks to rapidly expand in the world’s biggest economy.
Positive signs
While Revolut is still awaiting a decision on its licence submission from US regulators, sources close to Revolut say the neobank is confident it will be successful.
They cite two reasons for this: one, Revolut is working closely with the relevant regulatory bodies, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), through the process.
