Revolut has secured conditional approval from the US OCC for a national bank charter, bringing the fintech closer to launching its proposed US bank in 2027.
The approval is not yet a final banking authorization. Revolut said it continues to work through remaining regulatory processes with the FDIC and Federal Reserve, along with final approval from the OCC.
If all approvals are obtained, the proposed bank would allow Revolut to offer a broader range of products directly to US customers, including loans, credit cards and FDIC-insured deposits. Customers would also be able to access stablecoins and cryptocurrencies as part of the company’s financial platform.
The US expansion is part of Revolut’s ongoing push to become a global bank. The company recently launched its Mexican bank and is advancing regulatory efforts in Brazil, Colombia, Peru and Argentina.
Outside the Americas, Revolut secured bank licenses in France, Australia and the UK, obtained a payments license in the UAE and is pursuing a banking license in South Africa.
