Revolut has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national bank, giving the fintech company a path toward offering banking services directly to U.S. customers.

The approval, however, does not grant Revolut full authority to begin banking operations. Before the proposed bank can open, the company still needs approvals from the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, as well as final clearance from the OCC. Conditional OCC approvals are a preliminary stage in the chartering process; they establish that an applicant's business plan and structure are viable in principle while leaving operational launch contingent on meeting supervisory conditions.

Revolut Targets 2027 U.S. Banking Launch

Revolut plans to launch the bank in 2027, subject to completion of the remaining regulatory process. Chief Executive Nik Storonsky described the OCC decision as an important step in the company's U.S. expansion.

The proposed bank could offer loans, credit cards, insured deposits, cryptocurrency services, and stablecoin products. Those services will depend on final regulatory approvals and compliance with federal banking rules. FDIC-insured deposits, in particular, would be a meaningful change for Revolut's U.S. customers, who today hold funds through partner institutions rather than directly with a Revolut-chartered bank.

Revolut already provides financial and crypto services in the United States through separate regulated businesses and partner institutions. A national bank charter would give the company a broader structure for its U.S. banking activities, reducing its reliance on partner banks and consolidating more product delivery under its own federal supervision.

The OCC has also opened a clearer route for companies engaged in permitted digital-asset services. Comptroller Jonathan Gould has said that firms using crypto and other new financial technologies should have access to federal bank supervision when they meet regulatory standards. The OCC expects to finalize rules for the GENIUS Act by November after industry feedback.

U.S. Regulators Review More Charter Applications

The OCC has approved several crypto-related firms in recent months, including Coinbase, Paxos, BitGo, Ripple, and Circle. The regulator has also granted conditional approval to World Liberty Financial.

Since 2025, the OCC has received 40 applications for new bank charters, approving 21 and denying two. Revolut must still meet requirements covering capital, governance, risk controls, and compliance before it can operate the proposed bank. The volume of applications reflects a broader shift in federal banking policy toward granting fintech and digital-asset firms direct access to the chartering system, a contrast with earlier years when such firms generally operated through state licenses or bank partnerships.

Revolut continues to expand its regulated operations outside the United States. The company says it has secured bank licenses in France, Australia, and the United Kingdom, and is also expanding in Mexico and other Latin American markets.

The fintech says it serves more than 80 million customers worldwide and aims to reach 100 million by mid-2027. Its U.S. bank plan remains conditional until all required federal regulatory approvals are granted.