Revolut is in search of approval from a U.S. nationwide financial institution as a part of its technique to increase its presence in North America, the corporate introduced Thursday.
In the present day, we formally submitted our utility for a U.S. banking license.
It is a vital milestone in our mission to construct the world’s first really international financial institution.
— Revolut (@Revolut) March 5, 2026
The crypto-friendly fintech large has greater than 1 million clients within the US and plans to take a position $500 million available in the market over the subsequent three to 5 years.
Revolut has employed former Visa government Cetin Duransoy to steer its operations on this planet’s largest monetary market because it seeks a banking license.
The nationwide banking constitution offers Revolut direct entry to the Federal Reserve’s cost methods, permits it to just accept federally insured deposits of as much as $250,000 per account, and permits it to supply private loans and bank cards on to shoppers.
Revolut had beforehand sought to acquire a US banking license in 2021, however withdrew its utility in 2023 following regulatory setbacks. The brand new transfer comes as fintech firms similar to PayPal and Coinbase pursue comparable charters within the wake of regulatory adjustments launched below President Donald Trump’s administration.
In 2024, Revolut secured a restricted UK banking license from the Prudential Regulation Authority, permitting it to function as a licensed financial institution as soon as the mobilization section was accomplished. The corporate is at present working in the direction of approval for a full UK banking license.
Revolut is considered one of 4 firms chosen by the Monetary Conduct Authority to check stablecoin companies below the proposed guidelines.
