Revolut, the London-based fintech valued at roughly $75 billion, has received provisional approval from the Office of the Comptroller of the Currency to establish Revolut Bank US, N.A., a new national bank charter. The OCC granted this approval on September 2, allowing Revolut to offer FDIC-insured deposits, lending products, and direct access to US payment rails without relying on partner banks. The company plans to launch full operations in 2027, pending additional approvals from the Federal Reserve and the FDIC, backed by $500 million committed to US expansion. The new bank will also incorporate stablecoin services alongside traditional products, positioning itself at the intersection of conventional finance and digital assets. Founded just over a decade ago, Revolut currently serves between 70 and 75 million users globally and aims to reach 100 million users by mid-2027.
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