Revolut files for US bank charter, targets 2027 launch

Revolut filed for a US national bank charter with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation on March 5, 2026, and plans to launch Revolut Bank US, N.A. in 2027. The application names Cetin Duransoy as US chief executive and proposes headquarters in Stamford, Connecticut with an additional office in New York. The company intends to operate the bank as a fully digital platform with no physical branches.

Under the proposed national charter, the bank would accept deposits directly with FDIC insurance and gain direct access to Federal Reserve payment systems such as Fedwire and ACH. The filing describes a product set that combines conventional insured deposit products with native stablecoin services and integrated trading for crypto and stocks within the same app.

Planned US products include FDIC‑insured checking and high‑yield accounts, native stablecoin access, multi‑currency deposit functionality covering more than 30 currencies including USD, EUR and GBP, direct cryptocurrency trading and fractional stock trading. The company says trading will be integrated into the bank platform rather than offered through a separate exchange app.

Revolut positions the bank for retail and business customers with international banking needs, including people and companies that move money across borders, hold balances in multiple currencies or require low‑cost foreign exchange. The company reports about 75 million customers globally and roughly 1 million users in the United States.

Revolut reported revenue of 4.5 billion pounds and net profit of 1.3 billion pounds in its most recent year and was valued at about $75 billion in its latest funding round.

Regulatory work is under way in other jurisdictions as well. The company has been selected for a dedicated stablecoin cohort in the UK regulator’s sandbox to test issuance and payment use cases while pursuing the US national bank charter. The dual approach aims to seek approvals for stablecoin services under UK and US frameworks as rules are developed.

The timing of regulatory approval is the main uncertainty. National charter reviews for established applicants have historically taken 12 to 24 months. Revolut’s 2027 target implies a review period of about 12 to 18 months. Approval by the OCC and FDIC will determine whether the bank can begin operations as planned.

Industry developments in early June 2026 include other firms launching bank‑linked stablecoins and payments providers rolling out token initiatives, increasing the regulatory and competitive context for new national bank stablecoin entrants. The filing states the bank would operate across all 50 states under a federal charter.