Revolut has received conditional approval from the OCC to establish a US national bank, clearing a key regulatory hurdle as it targets a 2027 launch.
The fintech still needs approvals from the FDIC and Federal Reserve, as well as final approval from the OCC. The proposed bank would eventually allow Revolut to provide US customers with banking services including loans, credit cards and FDIC-insured deposits directly, while also offering access to stablecoins and cryptocurrencies.
The conditional approval provides a foundation for the company’s expansion in the US, Nik Storonsky, Revolut’s founder and CEO, stated.
“We’re grateful for the OCC’s open and transparent dialogue throughout this process. They were both diligent and expedient with our application, allowing us to remain on track for a 2027 launch of our proposed national bank,” Revolut US CEO Cetin Duransoy said.
The move comes as Revolut accelerates its international banking expansion. The company, which serves more than 80 million customers worldwide, recently launched its Mexican bank and is pursuing licenses in several other Latin American markets, including Brazil, Colombia, Peru and Argentina.
