Revolut Clears Key Hurdle for US Banking Expansion
Revolut, a UK-based fintech company, has secured conditional approval from the Office of the Comptroller of the Currency (OCC) for its US national bank charter. This is a significant step towards launching Revolut Bank US in the first half of 2027, pending final approvals from other regulatory bodies.
The proposed bank will offer checking accounts, loans, credit cards, and foreign exchange services, as well as stablecoins and broader crypto services. Revolut's founder and CEO Nik Storonsky said that conditional OCC approval is an important first step towards bringing the full Revolut experience to millions of Americans.
The speed of the decision has drawn attention from industry commentators, with some noting that Wise and Bunq faced setbacks in their own US charter efforts. Revolut U.S. CEO Cetin Duransoy said that the OCC was both 'diligent and expedient' during the process, allowing the company to stay on schedule for 2027.