Revolut Receives Conditional Approval for U.S. National Bank License
- Revolut received conditional approval from the OCC to establish a U.S. national bank after applying in March.
- The bank is set to launch in 2027, pending final approvals from the FDIC and Federal Reserve System.
- Proposed services include FDIC-insured deposits, credit products, multi-currency accounts, stablecoins, and cryptocurrency transactions.
- Revolut aims to grow its customer base from over 80 million to approximately 100 million by mid-2027.
- The company has obtained banking licenses in France, Australia, and the UK in addition to pursuing a license in South Africa.
This conditional approval marks a significant milestone for Revolut as it seeks to expand its global financial infrastructure and offer innovative banking solutions in the U.S. market.
With plans for various banking services including stablecoins and cryptocurrency transactions, Revolut’s launch will enhance its offerings significantly by targeting millions of American customers directly.
