Fintech firm Revolut filed a brand new utility for a US nationwide financial institution constitution because it renews its push into the North American market, marking the corporate’s second try to safe a US banking license.
The London-based firm mentioned Thursday that it submitted an utility to the Workplace of the Comptroller of the Foreign money and the Federal Deposit Insurance coverage Company to ascertain “Revolut Financial institution US, N.A.”
The corporate additionally appointed fintech veteran Cetin Duransoy as the corporate’s new US CEO. Duransoy brings greater than twenty years of expertise in banking, funds and know-how. He beforehand served as US CEO of fintech market Raisin. Duransoy replaces Sid Jajodia, who will stay with the corporate as international chief banking officer.
“The USA is a key pillar of our international progress technique,” Revolut founder and CEO Nik Storonsky mentioned. “Submitting for a nationwide financial institution constitution is a serious milestone towards our imaginative and prescient of constructing the world’s first really international banking platform,” he added.
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US financial institution constitution would unlock nationwide operations
If permitted, the license would permit Revolut to function beneath a single federal regulatory framework throughout all 50 US states. The constitution would additionally give the corporate direct entry to fee methods Fedwire and ACH, allow it to supply insured deposits by the FDIC and develop into merchandise together with private loans and bank cards.
Revolut tried to safe a US banking license in 2021 by California regulators. That effort stalled and was withdrawn in 2023 after encountering regulatory hurdles and inner management issues.
Revolut says it presently serves over 70 million prospects globally and operates in 40 markets. In November 2025, the corporate accomplished a secondary share sale that valued it at $75 billion.
Revolut’s transfer to use for a US banking license comes as the corporate shifts away from earlier plans to amass an American financial institution because it expands globally.
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Extra fintech companies search OCC financial institution charters
Extra fintech and crypto corporations are looking for US banking licenses by the OCC. In January, Nubank acquired conditional approval from the regulator to ascertain a nationwide financial institution in the US, whereas crypto trade Crypto.com secured the same approval in February.
In December 2025, the OCC additionally conditionally permitted 5 nationwide financial institution constitution functions for Circle, Ripple, BitGo, Constancy Digital Property and Paxos.
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