Revolut received on Thursday, October 3, the conditional approval from the Office of the Comptroller of the Currency (OCC) to obtain a national banking license in the United States. This approval represents a significant milestone in the company's expansion in the North American market and constitutes a decisive step in its ambition to become the first truly global bank.
The company, which serves more than 80 million clients worldwide, is now working on the remaining applications and approvals with the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve (Fed) and the OCC's final authorization. The bank's launch is scheduled for 2027. The founder and CEO of Revolut, Nik Storonsky, considered that this approval validates the company's vision and allows it to move faster with innovation, while Cetin Duransoy, CEO of Revolut in the US, highlighted the open and transparent dialogue maintained with the regulator throughout the process.
Once all authorizations are obtained, Revolut will be able to offer American clients directly a wide range of banking products, including loans, credit cards, FDIC-insured deposits, as well as access to stablecoins and cryptocurrencies.
This North American expansion is part of a broader strategy in the Americas, where the company recently launched its bank in Mexico and has been making regulatory progress in Brazil, Colombia, Peru and Argentina. Revolut has also obtained payment licenses in the United Arab Emirates and has pending banking license applications in Australia, South Africa and France, maintaining the goal of reaching 100 million clients by mid-2027. Founded in 2015 in the United Kingdom, Revolut currently processes more than one billion transactions per month.
