Revolut Secures Conditional OCC Approval to Become a U.S. Bank
Revolut has taken a major step toward operating as a bank in the United States. On Thursday the fintech company received conditional approval from the Office of the Comptroller of the Currency. This preliminary green light lets Revolut move closer to offering loans, stablecoins, credit cards, and other banking products directly to American customers.
CEO Calls It an Important First Step
Revolut CEO Nik Storonsky described the decision as “an important first step.” He said it provides the foundation to build in the world’s largest financial market. The company aims to bring the full Revolut experience to millions of Americans. Revolut already holds bank licenses in France, Australia, and the United Kingdom.
Growing Wave of Crypto and Tech Firms Seek Bank Charters
More crypto and technology companies are applying for U.S. bank charters. In the past year the OCC has granted conditional approvals to Coinbase, Paxos, BitGo, Ripple, and Circle. Last month it also approved President Donald Trump’s family-backed World Liberty Financial, a move that drew scrutiny over possible conflicts of interest.
OCC Supports Pathway for Novel Technologies
OCC chief Jonathan Gould has stated that firms using crypto and other new technologies should have a clear path to become federally supervised banks. Since 2025 the agency has received 40 de novo charter applications. It has approved 21 of them and denied only two.
