Revolut has received conditional approval for a license in the U.S. It will launch a bank in 2027

The U.S. Office of the Comptroller of the Currency (OCC) has conditionally approved Revolut’s application for a national banking license. This is an important step in the fintech company’s efforts to capture the world’s largest market, according to Bloomberg.

According to the company’s statement, Revolut still needs to secure full approval from the OCC, as well as the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve System (Fed), in order to obtain a banking license in the U.S. However, it described the OCC’s move as “a significant milestone on the path to becoming the world’s first truly global bank.”

The OCC’s approval paves the way for Revolut to gain direct access to the Federal Reserve’s payment systems, accept federally insured customer deposits of up to $250,000, and issue personal loans and credit cards, according to Bloomberg. Until now, the service has relied on partner banks to provide services in the U.S., the agency noted. Once all approvals are in place, Revolut also plans to add stablecoins and cryptocurrencies to its product lineup.

The bank plans to fully launch as a bank in the U.S. market in 2027. Revolut applied for a U.S. banking license in March 2026.

“The OCC’s conditional approval is an important first step toward establishing the proposed Revolut Bank US,” said Revolut Founder and CEO Nikolay Storonsky, as quoted in a company press release. “It gives us a foundation to grow in the world’s largest financial market and will allow us to offer millions of Americans the full range of Revolut’s capabilities.”

The U.S. is one of Revolut's key growth markets: the company has committed to investing $500 million in the U.S. market over the next three to five years, Bloomberg notes.

Revolut was valued at $115 billion as part of a stock offering that began in July 2026. The fintech company has more than 80 million customers worldwide, making it one of the largest and fastest-growing fintech companies, according to Bloomberg. The service’s immediate goal is to increase its customer base to 100 million.

On August 10, Revolut received approval for a full banking license in France. The company plans to open its new headquarters for Western Europe in Paris in 2027. The bank then intends to gradually expand into the markets of Germany, Ireland, Italy, Portugal, and Spain. Revolut Bank’s Lithuanian division will continue to serve customers in the remaining countries of the European Economic Area. In March 2026, Revolut was granted a full banking license in its home market—the United Kingdom.

In addition to Europe, Revolut also secured a full banking license in Mexico in January 2026, a market it has identified as one of its key global markets. Also, in October of last year, Revolut received approval from the Colombian regulator to establish a bank, and in January 2026, the service applied for a banking license in Peru. In Argentina, Revolut acquired the local bank Cetelem from BNP Paribas.

This article was AI-translated and verified by a human editor