Fintech giant Revolut has made a significant step toward conquering the American market. On September 3, the U.S. Office of the Comptroller of the Currency (OCC) granted conditional approval for the creation of Revolut Bank US, a national bank. This event marks an important stage in the company's strategy to integrate traditional finance and digital assets.
Receiving preliminary approval is only the first, albeit critically important, hurdle. For a full launch, planned for 2027, Revolut must pass through several more regulatory bodies. In particular, approvals will be required from the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve System (Fed), as well as final confirmation from the OCC itself. This is a complex, multi-stage process that could take many months.
A bridge between fiat and cryptocurrencies
A key aspect of the new banking structure is its hybrid nature. Revolut Bank US plans to offer clients a classic set of banking products: deposits, credit lines, and payment cards. However, unlike many traditional banks, the company intends to integrate direct access to stablecoins and cryptocurrencies into its ecosystem. This makes the project particularly ambitious, as it seeks to legalize and normalize cryptocurrency operations within the strictly regulated U.S. banking system.
This approach reflects a growing market trend: the blurring of lines between digital assets and traditional finance. Revolut is clearly positioning itself as a universal financial platform of the new generation, capable of serving both conservative depositors and crypto enthusiasts.
My view: The OCC's conditional approval is not just a victory for Revolut, but also a signal for the entire market. U.S. regulators appear willing to consider hybrid business models that combine banking reliability and cryptocurrency flexibility. However, the path from conditional approval to actual launch is fraught with difficulties, and Revolut's ability to pass all the checks will be a test of maturity for the entire fintech industry.