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Revolut has secured conditional approval from the US Office of the Comptroller of the Currency (OCC) to establish a national bank in the United States, marking a significant step in the fintech’s plans to expand its banking operations in the world’s largest financial market.
The approval allows the company to advance its proposed Revolut Bank US, although the fintech must still secure additional regulatory approvals before it can begin operating as a national bank.
Revolut said it is working through outstanding applications with the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, alongside the final approval process with the OCC. The company is targeting a 2027 launch for the proposed bank.
Revolut targets broader banking services for US customers
Once the remaining regulatory requirements are completed, Revolut expects its US banking entity to offer customers a broader range of financial products directly.
These are expected to include lending products, credit cards and FDIC-insured deposits, alongside access to stablecoins and cryptocurrencies.
The move would significantly expand Revolut’s ability to provide integrated financial services to US customers while placing the company under the country’s national banking regulatory framework.
Revolut founder and CEO Nik Storonsky described the conditional OCC approval as an important milestone in the company’s US expansion.
“Conditional OCC approval is an important first step towards establishing the proposed Revolut Bank US. It 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.
Banking expansion accelerates across the Americas
The planned US bank forms part of Revolut’s broader expansion strategy across the Americas, where the company has been building its regulatory footprint through new banking licences and applications.
Revolut recently launched its banking operations in Mexico and has continued regulatory engagements in Brazil, Colombia, Peru and Argentina.
The company says these efforts are laying the foundation for a more connected financial network across the region, allowing it to expand its product offering while navigating different regulatory frameworks across individual markets.
Revolut expands global regulatory footprint
Beyond the Americas, Revolut has continued to pursue banking and financial services licences across several international markets in 2026.
The company has obtained bank licences in France, Australia and the UK, secured a payments licence in the UAE and is progressing applications for banking licences in Finland and South Africa.
The expansion highlights Revolut’s strategy of securing local regulatory approvals as it seeks to operate more directly within financial markets rather than relying solely on partnerships or existing licensed institutions.
Fintech targets 100 million customers
As it expands its regulated presence across multiple markets, Revolut is also pursuing an aggressive customer growth target.
Storonsky said the company remains on course to reach 100 million customers by the middle of 2027.
The proposed US banking licence is expected to be an important component of that strategy, giving Revolut access to a major financial market while expanding the range of regulated products it can offer to American consumers.
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