Revolut has won conditional approval from the U.S. Office of the Comptroller of the Currency to form a national bank, clearing a hurdle that Wise, Bunq and Monzo have not. The London fintech targets a first-half 2027 launch for Revolut Bank US, with crypto and stablecoin services expected to follow banking basics.
Approval Arrives in Six Months
Revolut has received conditional approval from the Office of the Comptroller of the Currency to form Revolut Bank US, based in Stamford, Connecticut. The company still needs sign-off from the Federal Deposit Insurance Corporation, the Federal Reserve, and final OCC clearance before it can open.
CEO Cetin Duransoy said the OCC was "diligent and expedient" during the review, which took six months and kept the company on schedule for 2027. Fintech commentator Simon Taylor noted that Wise and Bunq faced setbacks in their own U.S. charter attempts, while Revolut's approval took a fraction of the years of regulatory work the company went through in the U.K.
Banking First, Bitcoin and Stablecoins After
Once cleared, Revolut Bank US plans to offer checking accounts, loans, credit cards and foreign exchange. Stablecoins and broader crypto services are expected to follow the initial banking rollout. Direct access to FDIC-insured deposits, lending, credit cards, stablecoins and federal payment infrastructure would let Revolut move beyond its current reliance on partner Lead Bank.
Revolut already offers bitcoin and digital-asset services in multiple markets, so a U.S. charter could eventually put traditional banking, stablecoins and bitcoin access under one regulated roof.
Revolut Joins Nubank in the Charter Race
Max Karpis said the OCC approval clears a hurdle that Monzo, Wise and Bunq had failed to pass, adding that Revolut is now in a similar position to Nubank, which also received conditional U.S. charter approval this year. FT Partners' Steve McLaughlin said Revolut could become a multi-trillion dollar company over the next 10 to 20 years, pointing to its pace of product expansion.
The fintech reported $6 billion in 2025 revenue and $2.3 billion in pre-tax profit, while expanding its banking footprint across Mexico, Brazil, Colombia, Peru and Argentina. It has also secured banking or payments approvals in France, Australia, the U.K. and the UAE, and says it remains on track to reach 100 million customers by mid-2027.
Source: Revolut
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