Revolut Clears Key Hurdle for US Banking Charter
UK-based fintech company Revolut has made significant progress towards becoming a full-service US bank, clearing a key hurdle with conditional approval from the Office of the Comptroller of the Currency (OCC).
The proposed bank, based in Stamford, Connecticut, aims to launch in the first half of 2027 and will offer checking accounts, loans, credit cards, and foreign exchange services. Stablecoins and broader crypto services are expected to follow.
Revolut's founder and CEO Nik Storonsky said: 'Conditional OCC approval is an important first step towards establishing the proposed Revolut Bank US. It gives us the foundation to bring the full Revolut experience to millions of Americans.'
The speed of the decision was impressive, with Revolut receiving conditional approval in just six months. In contrast, other fintech companies such as Wise and Bunq faced setbacks in their own US charter efforts.