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

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.

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