Revolut is searching for a US nationwide financial institution constitution as a part of its technique to increase its presence in North America, the corporate introduced Thursday.
Right this moment, we formally filed our utility for a U.S. banking license.
This can be a main milestone in our mission to construct the world’s first really world financial institution.
— Revolut (@Revolut) March 5, 2026
The crypto-friendly fintech big has multiple million US prospects and plans to speculate $500 million available in the market over the subsequent three to 5 years.
In pursuing the banking license, Revolut has tapped former Visa govt Cetin Duransoy to steer its operations on this planet’s largest monetary market.
A nationwide financial institution constitution would grant Revolut direct entry to Federal Reserve fee programs, allow it to just accept federally insured deposits as much as $250,000 per account, and permit it to supply private loans and bank cards on to shoppers.
Revolut beforehand sought a US financial institution licence in 2021 however withdrew the applying in 2023 after regulatory setbacks. The brand new push comes as fintech corporations like PayPal and Coinbase pursue comparable charters following regulatory modifications launched beneath Donald Trump.
In 2024, Revolut secured a UK banking licence with restrictions from the Prudential Regulation Authority, permitting it to function as a licensed financial institution as soon as its mobilization part is accomplished. The corporate continues to be working towards approval for a full UK banking licence.
Revolut is amongst 4 corporations chosen by the Monetary Conduct Authority to check stablecoin companies beneath the proposed guidelines.
