Revolut Wins Conditional Approval for US Banking Charter
Revolut has secured conditional approval from the Office of the Comptroller of the Currency (OCC) for a US national bank charter, marking a significant milestone in its expansion into the American market.
The London-based financial technology firm plans to establish its banking operations in Stamford, Connecticut, with an initial workforce of around 160 professionals and a $95 million investment. Revolut aims to begin full banking services in the first half of 2027, offering checking accounts, credit cards, installment loans, foreign exchange services, and a digital stablecoin.
The OCC's approval places Revolut alongside other fintech companies, including Coinbase, Paxos, BitGo, Ripple, and Circle, that have received conditional charter approvals in the past year. This regulatory trend reflects the OCC's relatively welcoming approach to cryptocurrency and emerging technologies.