Fintech company Revolut says it has received preliminary approval from a key U.S. banking regulator as it seeks to become a bank in the country.
On Thursday, Revolut secured conditional approval from the U.S. Office of the Comptroller of the Currency as it makes its way to being able to directly offer banking products, from loans to stablecoins to credit cards, to customers, according to a statement.
Revolut CEO Nik Storonsky called the conditional approval "an important first step."
"It gives us the foundation to build in the world's largest financial market and bring the full Revolut experience to millions of Americans," Storonsky said in the statement.
Over the years, Revolut has obtained bank licenses in France, Australia and the UK, the company said.
