Revolut clears first U.S. banking hurdle, launch set for 2027
Conditional OCC approval brings the fintech closer to offering full banking services to American customers, but Federal Reserve and FDIC sign‑off remain pending.
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Named CEO quoted and approval attributed to OCC, but no documents cited.
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Revolut announced on 29 July 2026 that the U.S. Office of the Comptroller of the Currency gave the fintech a conditional green light for a U.S. bank charter. The announcement was made in a statement released by the company and reported by the Standard. The conditional approval marks the first regulatory milestone needed to operate a full‑service bank in the United States.
Further authorisations required
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The firm still requires separate approvals from the Federal Reserve and the Federal Deposit Insurance Corporation before it can begin offering accounts, loans or credit cards to American users. Both bodies must review the charter application and confirm that Revolut meets U.S. banking standards. Until those clearances are granted, the company cannot launch any new products in the United States.
It gives us the foundation to build in the world’s largest financial market and bring the full Revolut experience to millions of Americans.
Nik Storonsky, founder and chief executive
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Revolut entered the U.K. market with a full banking licence after a lengthy approval process earlier this year. The company now serves about 13 million customers in the United Kingdom, offering foreign‑exchange, international spending and investment tools. The U.S. expansion is expected to replicate those services and add cryptocurrency and stable‑coin access, according to the firm’s plans.
The conditional OCC approval was described by Nik Storonsky as an “important first step”. He added that the decision provides a solid base for the firm to build its presence in the United States, the world’s biggest financial market. Revolut’s leadership expects the full charter to be granted after the remaining reviews, with a public launch slated for 2027.
If the Federal Reserve and FDIC give their consent, Revolut will be able to open bank accounts for U.S. individuals and businesses, and later introduce credit products. The company has not disclosed a precise timeline for the next regulatory meetings, but it indicated that the process will continue throughout 2026 and early 2027.
Questions this report answers
+When does Revolut plan to launch its U.S. bank?
Revolut aims to open its U.S. bank in 2027, after securing the remaining authorisations from the Federal Reserve and the FDIC. The target date follows the conditional approval it received from the OCC in July 2026.
+What regulatory approvals are still needed for the U.S. launch?
Beyond the conditional green light from the Office of the Comptroller of the Currency, Revolut must obtain clearance from the Federal Reserve and the Federal Deposit Insurance Corporation. Both agencies must sign off before any U.S. banking products can be offered.
+How many customers does Revolut have in the United Kingdom?
Revolut reports around 13 million customers in the United Kingdom. Those users currently access services such as foreign‑exchange, international spending and investment features, which the firm plans to extend to a broader banking suite once the U.S. charter is finalised.
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