TLDR
- Revolut received conditional approval from the US Office of the Comptroller of the Currency for a national bank charter
- The fintech plans to launch a fully operational US bank by the first half of 2027
- The new bank will be based in Stamford, Connecticut, with around 160 employees
- Products will include checking accounts, credit cards, installment loans, and a stablecoin
- Revolut joins Coinbase, Paxos, BitGo, Ripple, and Circle in receiving OCC conditional approval
Revolut has taken a major step toward becoming a licensed bank in the United States after receiving conditional approval from the Office of the Comptroller of the Currency.
🚨UPDATE: Revolut has won conditional U.S. approval for a national bank charter.
A 2027 launch could bring loans, credit cards, insured deposits and crypto access under one roof.
Revolut is no longer just a fintech app, it’s positioning itself as a full-scale global bank with… pic.twitter.com/WSs4fMFQg2
— ALLINCRYPTO (@RealAllinCrypto) September 4, 2026
The British fintech company, which has 80 million customers worldwide, announced the approval on Thursday. CEO Nik Storonsky called it “an important first step” toward bringing the full Revolut experience to American customers.
What the Approval Means
The OCC approval is the first of several regulatory hurdles Revolut must clear. The company still needs green lights from the Federal Deposit Insurance Corporation and the Federal Reserve before it can begin full banking operations.
Cetin Duransoy, Revolut’s US CEO, confirmed the timeline in an interview. The bank is expected to launch in the first half of 2027.
Revolut plans to inject around $95 million of capital into the new bank. The bank will be headquartered in Stamford, Connecticut, and will operate with a team of about 160 employees.
The new bank will offer checking accounts, installment loans, credit cards, and foreign exchange services. Revolut also plans to launch a stablecoin as part of its US product lineup.
The company intends to offer multicurrency services by connecting its US operations with its existing presence in Europe and Latin America.
Revolut Joins a Growing List of Crypto and Fintech Firms
Revolut is not alone in seeking a US bank charter. Over the past year, the OCC has granted conditional approvals to several crypto-related companies, including Coinbase, Paxos, BitGo, Ripple, and Circle.
The OCC’s head, Jonathan Gould, has stated that companies working with crypto and other new technologies should have a pathway to become federally supervised banks. The OCC has taken a notably open stance toward the sector.
Since 2025, the OCC has received 40 de novo charter applications and approved 21 of them, denying two.
The conditional approval for World Liberty Financial, backed by President Donald Trump’s family, was also granted last month and drew scrutiny over potential conflicts of interest.
Revolut has been building its banking footprint globally. It secured a banking license in the UK in March 2026 and in France the following month. It has also been authorized to operate a bank in Australia.
The US banking license would be Revolut’s largest market entry yet. The United States represents the world’s biggest financial market.
Revolut still needs FDIC and Federal Reserve approval before the bank can open to the public, with a launch target set for early 2027.
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