Revolut filed with the OCC and FDIC on March 5, 2026 for a US national bank charter, to be established as "Revolut Bank US, N.A." The company dropped earlier plans to acquire an existing US bank, opting for a standalone charter that would provide uniform 50-state operations, FDIC-insured deposits, and direct Fedwire/ACH access.
Global Licensing Momentum
The US filing caps the most accelerated global licensing push by any neobank. Revolut secured its UK banking licence in July 2025 after a three-year process, launched Revolut Bank in Mexico (its first bank outside continental Europe), gained authorisation in Colombia, and filed for a licence in Peru - all within an 8-month period. The company now operates across 40 countries.
Leadership and Scale
Revolut appointed Cetin Duransoy, a former Visa executive, as US CEO to lead the charter process and market entry. The company reported over 50 million global customers and achieved profitability, strengthening its regulatory application.
What This Means
Revolut's standalone OCC charter application - rather than acquiring an existing bank - signals confidence in the current US regulatory environment. If approved, Revolut would join Nubank (conditional approval January 2026), PayPal (ILC application December 2025), and Stripe (MALPB application April 2025) in a historic wave of fintechs seeking direct US banking access. The common thread: payment companies have concluded that direct payment rail access is now a competitive necessity, not an optional advantage.