Revolut Gets OCC Green Light, Yet Its U.S. Launch Still Waits – CoinCentral

TLDR

• Revolut secured conditional OCC approval to establish a national bank in the United States.
• The approval is not final, with FDIC, Federal Reserve, and final OCC clearance still required.
• Revolut is targeting a 2027 launch for its proposed U.S. bank, subject to regulatory completion.
• Planned services include loans, credit cards, insured deposits, crypto and stablecoin products.
• The OCC has approved more digital-asset firms, including Coinbase, Ripple, Circle, Paxos and BitGo.

Revolut has received conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national bank. The decision gives the fintech a path toward offering more banking services directly to U.S. customers.

The approval does not give Revolut full authority to begin banking operations. The company still needs approvals from the Federal Deposit Insurance Corporation and the Federal Reserve. The OCC must also grant final approval before the proposed bank can open.

Revolut Targets 2027 U.S. Banking Launch

Revolut plans to launch the bank in 2027, subject to completing 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. However, those services will depend on final regulatory approvals and compliance with federal banking rules.

Revolut already offers 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.

The OCC has also opened a clearer route for companies involved in permitted digital-asset services. Comptroller Jonathan Gould has said 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.

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Since 2025, the OCC has received 40 applications for new bank charters and approved 21, while denying two. Revolut must still meet requirements covering capital, governance, risk controls and compliance before it can operate the proposed bank.

Revolut continues to grow its regulated operations outside the United States. The company says it has secured bank licenses in France, Australia and the United Kingdom, while 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 federal regulators grant all required approvals.