Revolut said on Sept. 3, 2026, that it had received conditional approval from the OCC to establish a U.S. national bank after submitting its application in March. The decision marks an important step toward Revolut’s planned 2027 launch in the world’s largest financial market, but does not yet authorize it to begin banking operations.

Revolut must complete procedures with the FDIC and the Federal Reserve System and obtain final OCC approval before opening the bank.

Planned banking services

After securing the necessary approvals, Revolut plans to provide U.S. customers directly with loans and credit cards, FDIC-insured deposits, multi-currency accounts, access to stablecoins and cryptocurrency transactions.

Revolut founder and CEO Nikolay Storonsky described the conditional decision as an important first step toward establishing the bank.

“It [the OCC’s conditional approval] gives us the foundation to build in the world’s largest financial market and bring the full Revolut experience to millions of Americans,” Storonsky said.

Chetin Duransoy, Revolut’s U.S. CEO, thanked the OCC for its dialogue during the application review and said the company remained on track to launch the bank in 2027.

Revolut said it already serves more than 80 million customers worldwide and plans to increase that figure to 100 million by mid-2027.

Global licensing and digital assets

The planned U.S. bank is part of Revolut’s broader strategy to build global financial infrastructure. The company obtained banking licenses in France, Australia and the UK in 2026, as well as a payments license in the UAE, and continues to pursue a banking license in South Africa.

Max Karpis, an early Revolut investor and independent analyst, said the company had cleared a stage in the U.S. charter process that Monzo, Wise and Bunq had previously failed to pass. He said Revolut was now in a position similar to Nubank, whose ticker is $NU, in relation to a U.S. bank charter.

Cryptocurrencies and stablecoins are planned components of the future bank. In June 2026, Duransoy discussed plans to offer U.S. customers FDIC-insured products, multi-currency deposits, crypto-asset trading and stablecoins.

Revolut also continues to develop its digital-asset infrastructure. In August, it unveiled EURR, which it described as the first euro-denominated stablecoin compliant with the European MiCA regulation. A Stripe subsidiary issues the asset, which was initially made available to a limited group of customers.

Potential stock-market listing

Revolut’s banking expansion is proceeding alongside preparations for a potential stock-market listing. Storonsky said in April that the company was considering going public no earlier than 2028.

Before a potential listing, Revolut plans a secondary share sale for early investors and employees. In June, the company was reported to be considering such a sale at a valuation of about $115 billion.

Source: Incrypted