Revolut Clears Hurdle for US Bank Launch with Conditional OCC Approval

Revolut, a fintech company, has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national bank in the United States.

The OCC's decision does not give Revolut full authority to begin banking operations, and the company still needs approvals from the Federal Deposit Insurance Corporation and the Federal Reserve before it can open its proposed bank.

Revolut plans to launch the bank in 2027, subject to completing the remaining regulatory process. The proposed bank could offer loans, credit cards, insured deposits, cryptocurrency services, and stablecoin products, but these services will depend on final regulatory approvals and compliance with federal banking rules.