Revolut has received conditional approval from the US OCC to form a national bank.
According to the official press release, the company is now progressing applications with the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, alongside final OCC approval, as it works toward a planned 2027 launch of the proposed bank.
Remaining regulatory steps
Conditional approval from the OCC represents an intermediate stage in the US national bank chartering process. Before the proposed Revolut Bank US can begin operating, the company must secure deposit insurance from the FDIC, clear review by the Federal Reserve, and obtain final approval from the OCC. In addition, Revolut has stated that it remains on track for the proposed bank's planned 2027 launch, though the timeline is contingent on completing these outstanding approvals.
Once fully licensed, the bank would allow Revolut to offer US customers products including loans, credit cards, and FDIC-insured deposits directly, alongside access to stablecoins and cryptocurrencies. Revolut currently operates in the US market, though without a domestic banking licence, meaning products such as insured deposits have not previously been available to US customers directly from the company.
The proposed US bank forms part of a broader build-out of Revolut's presence across the Americas. The company has recently launched a bank in Mexico and is advancing regulatory processes in Brazil, Colombia, Peru, and Argentina. These efforts are aimed at establishing banking operations across multiple jurisdictions in the region.
Wider licensing activity
Beyond the Americas, Revolut has obtained bank licences in France, Australia and the UK during 2026, along with a payments licence in the UAE. The company is also progressing a bank licence application in South Africa.
The OCC's conditional approval places Revolut among a small number of non-US fintech companies pursuing a national bank charter in the US, a process that typically involves capital, governance and compliance requirements distinct from state-level licensing or partnerships with existing banks.
