Revolut secures conditional US bank charter for 2027 launch

The conditional green light serves as a foundational step for the London-based firm, which currently relies on a partnership with Lead Bank to serve its American users. To move from proposal to reality, Revolut must navigate a rigorous regulatory gauntlet, requiring final authorization from the OCC alongside deposit insurance and oversight from the Federal Deposit Insurance Corporation and the Federal Reserve. Should these hurdles be cleared, the new entity aims to employ roughly 160 staff members.

Revolut U.S. CEO Cetin Duransoy noted that the approval keeps the company on schedule for its 2027 rollout. The proposed bank intends to offer a suite of standard financial products, including checking accounts, credit cards, and installment loans. Notably, the company also lists a stablecoin among its planned offerings, though this component faces a complex federal landscape. Under the GENIUS Act of 2025, any such token must adhere to strict reserve, audit, and custody requirements. While Revolut has already dipped into the stablecoin market in Europe with its euro-backed EURR token, its U.S. crypto ambitions remain subject to evolving regulatory frameworks that distinguish between traditional bank deposits and digital assets.