Regulation
Revolut Secures Conditional OCC Approval for Proposed US National Bank
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Revolut announced on September 3, 2026, that it has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for its U.S. national bank charter, a step the company described as central to its plan to launch a proposed American bank in 2027. According to the company’s announcement, Revolut is now working through remaining applications and approvals with the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, and a final approval from the OCC before the proposed bank can open.
The conditional approval does not itself authorize the proposed bank to operate. Revolut characterized the decision as a first step and said the outstanding items include the FDIC application, the Federal Reserve application, and the OCC’s final sign-off. The company stated it remains on track for the planned 2027 launch of the proposed bank, which it referred to as the proposed Revolut Bank US.
Statements From Revolut Leadership
Revolut Founder and CEO Nik Storonsky framed the OCC decision in terms of market access. “Conditional OCC approval is an important first step towards establishing the proposed Revolut Bank US,” Storonsky said. “It gives us the foundation to build in the world’s largest financial market and bring the full Revolut experience to millions of Americans.”
Revolut US CEO Cetin Duransoy addressed the regulatory process itself. “We’re grateful for the OCC’s open and transparent dialogue throughout this process,” Duransoy said. “They were both diligent and expedient with our application, allowing us to remain on track for a 2027 launch of our proposed national bank.”
Planned Product Scope for the Proposed Bank
Revolut said that once all approvals are received, it will be able to directly offer U.S. customers a range of banking products. According to the company, that range includes loans, credit cards, and FDIC-insured deposits, as well as access to stablecoins and cryptocurrencies. The deposit-insurance element depends on the FDIC approval still in process, and the company described the product set as what it expects to deliver after the remaining approvals are secured.
The company described the conditional approval as a significant milestone in what it characterized as its journey to become the world’s first truly global bank. That characterization is the company’s own stated ambition for the charter and its broader licensing program.
Related Licensing Activity in the Americas and Elsewhere
Revolut tied the U.S. application to its recent expansion across the Americas. The company stated it has been securing banking licenses and launching operations throughout Latin America, and that it recently launched its Mexican bank. It said it has been advancing regulatory efforts in Brazil, Colombia, Peru, and Argentina, describing that work as groundwork for a connected financial network across the hemisphere.
Beyond the Americas, Revolut stated that it has continued its global push in 2026 by obtaining bank licenses in France, Australia, and the United Kingdom, a payments license in the United Arab Emirates, and by progressing a bank license application in South Africa.
Revolut reported serving more than 80 million customers worldwide and stated it remains on track to reach 100 million customers by mid-2027. Those customer figures and the mid-2027 target are the company’s own reported metrics and stated goal.
Remaining Approval Steps
The approval sequence Revolut described follows the standard structure the company laid out for a de novo national bank: a conditional OCC approval of the charter application, followed by deposit-insurance approval from the FDIC, a Federal Reserve application, and the OCC’s final approval before the institution may commence banking business. Revolut stated it is actively working through those remaining items and repeated that the proposed bank’s planned 2027 launch remains its target.
The company did not disclose in the announcement the specific conditions attached to the OCC’s conditional approval, a timeline for the FDIC or Federal Reserve decisions, or the capital structure of the proposed U.S. bank. Revolut said it will continue progressing the outstanding applications as it works toward the launch of the proposed Revolut Bank US.
