Revolut, the global financial platform serving more than 80 million customers worldwide, has received conditional approval from the U.S. Office of the Comptroller of the Currency for a national bank charter. The decision marks a significant regulatory step toward creating the proposed Revolut Bank in the United States. The company is now working through remaining applications with the Federal Deposit Insurance Corporation, the Federal Reserve, and the OCC as it targets a planned launch in 2027.
A Conditional Green Light
The OCC conditional approval is not a final authorization, but it clears an important early hurdle for Revolut's U.S. banking ambitions. The company must still secure approvals from the FDIC and the Federal Reserve, along with final OCC clearance, before it can operate as a national bank. Revolut said the regulator's open and transparent dialogue kept the process on track for a 2027 launch.
Leadership Reactions
Nik Storonsky, Revolut Founder and CEO, described the conditional approval as an important first step toward establishing the proposed Revolut Bank US. He said it gives the company a foundation to build in the world's largest financial market and bring the full Revolut experience to millions of Americans. Cetin Duransoy, Revolut US CEO, thanked the OCC for its diligent and expedient review of the application.
Products on the Horizon
Once all approvals are received, Revolut will directly offer U.S. customers a range of banking products including loans, credit cards, and FDIC-insured deposits. The platform would also provide access to stablecoins and cryptocurrencies, reflecting Revolut's integrated approach to traditional and digital finance. This would deliver the full Revolut experience that American consumers have been waiting for.
Building Across the Americas
The proposed U.S. bank builds on Revolut's expanding footprint across the Americas, where the company has been rapidly securing banking licenses and launching operations. Revolut recently launched its Mexican bank and has been advancing regulatory efforts in Brazil, Colombia, Peru, and Argentina. These parallel initiatives are laying the groundwork for a fully connected financial network across the hemisphere.
Global Momentum in 2026
Beyond the Americas, Revolut has continued its global push in 2026 by obtaining bank licenses in France, Australia, and the United Kingdom. The company also secured a payments license in the United Arab Emirates and is progressing a bank license application in South Africa. Revolut remains on track to reach 100 million customers by mid-2027.
Competing With Nubank
The U.S. charter race puts Revolut in direct competition with Nubank, which obtained conditional OCC approval in January for its own national bank. Nubank remains larger by customer count and revenue, ending 2025 with 131 million clients and $15.8 billion in revenue, while Revolut reported 80 million customers and $5.8 billion in revenue. After a secondary sale, Revolut reached a $115 billion valuation, close to double Nubank's market value, partly because about 76 percent of its revenue comes from fees.
The conditional OCC approval is a critical milestone in Revolut's ambition to become the world's first truly global bank. By advancing toward a U.S. charter, the company aims to offer a unified set of banking and digital asset services in the world's largest financial market. With final approvals still pending, Revolut's planned 2027 launch will be closely watched by competitors, investors, and regulators alike.