Revolut has secured conditional approval from the Office of the Comptroller of the Currency for a U.S. national bank charter, clearing the first regulatory hurdle toward launching full banking and cryptocurrency services in the American market.
The company submitted its application in March 2024, coinciding with its receipt of a full banking license in the United Kingdom after a protracted domestic approval process. The OCC's conditional green light addresses one gate of a three-part regulatory sequence—the company still requires sign-off from the Federal Reserve and Federal Deposit Insurance Corporation before operations can begin.
Revolut targets a 2027 launch. CEO Nik Storonsky said the conditional approval provides "the foundation to build in the world's largest financial market and bring the full Revolut experience to millions of Americans."
The company operates across approximately 80 million customers globally and projects 100 million by mid-2027, sustaining its current growth rate. Its UK model—which moved from foreign exchange and international spending to full bank accounts, loans and credit cards after obtaining a license—will serve as the template for U.S. expansion.
Crypto and stablecoin access will be central to the U.S. offering. Revolut identified consumer demand for digital asset services as a driver of its product roadmap.
The Federal Reserve and FDIC reviews introduce timing risk. Regulatory conditions or requests for additional documentation could delay the 2027 target or reshape the initial product scope.
