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UK Revolut Nears US Bank Launch as Bitcoin Services Could Follow
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Revolut has secured conditional OCC approval for a U.S. national bank charter, clearing a major regulatory hurdle in six months.
Key facts
- The U.K.-based company, which serves more than 80 million customers and could go public in the next two years, received conditional approval from the Office of the Comptroller of the Currency
- Conditional OCC approval is an important first step towards establishing the proposed Revolut Bank US
- The proposed bank, based in Stamford, Connecticut, is targeting a first-half 2027 launch — It has also secured banking or payments approvals in France, Australia, the UK and the UAE, while pursuing additional licenses elsewhere
Summary
A charter could cut reliance on partner banks and intensify U.S. fintech and crypto competition. Revolut targets H1 2027 launch, pending FDIC, Fed, and final OCC approvals. Revolut has moved a major step closer to becoming a full-service U.S. bank, potentially giving one of Europe’s largest fintech companies a much stronger foothold in the world’s biggest financial market.