Revolut, the London-based fintech giant, is making another push into the United States by filing a new application for a national bank charter. This marks the company’s second attempt to secure a US banking license, a critical step in its strategy to become a global financial powerhouse.
On Thursday, Revolut announced that it has submitted an application to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to establish Revolut Bank US, N.A.. The move comes as Revolut aims to tap into the lucrative US market and solidify its position as a leading financial services provider.
A Strategic Move for Global Dominance
Revolut founder and CEO Nik Storonsky emphasized the importance of the US market in the company’s global growth strategy. ‘The United States is a key pillar of our global growth strategy,’ Storonsky said. ‘Filing for a national bank charter is a major milestone toward our vision of building the world’s first truly global banking platform.’
If approved, the national bank charter would allow Revolut to operate under a single federal regulatory framework across all 50 states. This would provide the company with direct access to payment systems like Fedwire and ACH, as well as the ability to offer insured deposits through the FDIC. Additionally, Revolut could expand its product offerings to include personal loans and credit cards, further enhancing its appeal to US consumers.
New Leadership to Drive US Operations
To lead its US operations, Revolut has appointed fintech veteran Cetin Duransoy as the new US CEO. Duransoy brings over two decades of experience in banking, payments, and technology, most recently serving as the US CEO of fintech marketplace Raisin. His appointment is a clear indication of Revolut’s commitment to building a robust and compliant US business.
‘Cetin’s extensive experience and proven track record in the fintech industry will be invaluable as we navigate the regulatory landscape and drive growth in the US market,’ Storonsky added. Duransoy replaces Sid Jajodia, who will transition to the role of global chief banking officer.
A Renewed Focus on US Expansion
This latest application for a US bank charter follows Revolut’s previous attempt in 2021, which was ultimately withdrawn in 2023 due to regulatory hurdles and internal control concerns. Since then, Revolut has made significant strides in addressing these issues and strengthening its compliance framework.
The company currently serves over 70 million customers globally and operates in 40 markets. In November 2025, Revolut completed a secondary share sale that valued the company at $75 billion, further solidifying its position as one of the most valuable fintech startups in the world.
A Growing Trend in Fintech
Revolut’s move to secure a US bank charter is part of a broader trend in the fintech industry, where companies are increasingly seeking to establish themselves as regulated banks. In January, Nubank received conditional approval from the OCC to form a national bank in the US, while crypto exchange Crypto.com secured a similar approval in February. The OCC also conditionally approved five national bank charter applications in December 2025 for Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos.
These developments highlight the growing appetite among fintech and crypto companies to gain direct access to the US banking system, which offers numerous advantages in terms of regulatory clarity and operational efficiency.
Looking Forward
As Revolut and other fintech players continue to navigate the complex regulatory landscape, the approval of a national bank charter could be a game-changer. It would not only enhance Revolut’s competitive position in the US but also set a precedent for other international fintechs looking to expand their operations in the world’s largest economy.
With a renewed focus on compliance and a seasoned leader at the helm, Revolut is well-positioned to achieve its ambitious goals in the US market. The coming months will be crucial as the company awaits regulatory approval and continues to build its presence in North America.
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