Fintech giant files application with US regulators as it seeks direct access to payment rails and lending revenues.
Revolut has formally applied for a national banking licence in the US, marking a significant escalation in the fintech’s long-running attempt to break into the world’s largest financial market.
The London-headquartered company confirmed today (5 March) that it had submitted an application to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to establish Revolut Bank US, NA, a regulated banking entity capable of operating across all 50 states.
The move comes as the company seeks to transform itself from a payments-led fintech into what founder and CEO Nik Storonsky has described as a “truly global banking platform”.
“The United States is a critical pillar of our global growth strategy,” Storonsky said. “Applying for a national banking licence represents a major step toward our vision of building the first truly global banking platform.”
Alongside the regulatory filing, Revolut also announced the appointment of Cetin Duransoy as CEO of its US operations. Duransoy, formerly US CEO of Berlin-based fintech Raisin, succeeds Sid Jajodia, who will move into the role of Global Chief Banking Officer.
Why the US licence matters
Obtaining a US banking licence would allow Revolut to fundamentally reshape its business model in the country.
At present, many fintechs operating in the US rely on partner banks to provide regulated services. A national charter would instead allow Revolut to operate directly under federal supervision, giving it control over deposit-taking, lending, and access to key payment infrastructure.
Direct access to systems such as Fedwire and the Automated Clearing House (ACH) network would allow the company to connect more directly with the core rails of the US financial system, potentially improving transaction speed and reducing reliance on intermediaries.
The licence would also allow Revolut to offer FDIC-insured deposits and expand into lending products such as personal loans and credit cards, opening the door to interest-based revenue streams that traditional banks rely on.
A long-awaited push into America
Revolut’s US ambitions have been in motion for several years but have progressed cautiously as the company built out its regulatory footprint globally.
Payment Expert previously reported in January that the company was preparing to pursue a US banking licence as part of a broader international growth strategy. The latest filing represents the first formal confirmation of that plan.
The timing reflects both Revolut’s scale and its evolving strategy. The company now reports more than 70 million customers globally, processing over one billion transactions per month across its personal and business accounts.
In November 2025, Revolut completed a secondary share sale that valued the company at $75bn, making it one of the most valuable private technology companies in the world.
With that valuation has come increased pressure to expand beyond its original European strongholds and build sustainable banking revenues at scale.
The appointment of Duransoy also signals that Revolut is intensifying its focus on the American market.
Duransoy brings more than two decades of experience in payments and banking, including senior roles at Capital One and Visa. During his tenure at Raisin, he helped build a platform connecting more than 90 partner banks and credit unions in the US.
His appointment reflects the operational complexity of navigating the US regulatory landscape, where federal and state authorities often overlap and fintech licensing has historically been challenging.
A stepping stone to digital dollar ambitions?
The US banking licence could also play a role in Revolut’s longer-term ambitions in digital assets, including its reported plans to issue a stablecoin.
Over the past year, Revolut has been steadily expanding its crypto offering, which already allows customers to trade and hold a range of digital assets within its app. Industry reports in 2025 suggested the fintech was exploring the launch of its own stablecoin as part of a broader push into blockchain-based payments infrastructure.
While the company has not publicly confirmed a timeline for such a product, obtaining a US banking licence would provide a significantly stronger regulatory foundation should it choose to move forward with a dollar-pegged digital currency.
The regulatory environment around stablecoins in the United States is also evolving. Policymakers in Washington have been debating legislation that would bring stablecoin issuers under bank-like oversight, including requirements around reserves, liquidity and supervision.
