Revolut Receives Conditional Approval for U.S. National Bank Charter, Plans to Launch U.S. Banking Operations in the First Half of 2027

According to Reuters, UK fintech company Revolut has obtained conditional approval from the U.S. Office of the Comptroller of the Currency for a national bank charter, with plans to launch U.S. banking operations in the first half of 2027. The bank will be located in Stamford, Connecticut. Revolut plans to contribute approximately $95 million in capital and will provide products such as checking accounts, installment loans, credit cards, and foreign exchange services, while also expecting to launch stablecoins. Revolut stated that it still requires approval from the Federal Deposit Insurance Corporation and the Federal Reserve.