The fintech giant Revolut has made a significant step toward full-fledged banking expansion in the United States. On September 3, the Office of the Comptroller of the Currency (OCC) issued conditional approval for the creation of Revolut Bank US, a national bank. This is a key milestone that opens the door to launching operations, planned for 2027.
However, obtaining preliminary consent from the OCC is only the first turn in a complex regulatory maze. For a full launch, Revolut will need to pass through several more bureaucratic stages. In particular, approval 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. Only after that will the fintech be able to commence banking activities.
Strategically, Revolut aims to provide a traditional set of banking services — deposits, credit lines, and payment cards. But the key differentiator for the company is the integration of digital assets. The plans include offering clients access to stablecoins and cryptocurrencies within a regulated banking infrastructure. This looks like an attempt to bridge the conservative banking world with the innovative crypto ecosystem.
My analysis
The OCC's decision is not just a corporate victory for Revolut, but also a signal of the gradual softening of U.S. regulators' stance toward hybrid financial models. If Revolut successfully completes all stages, it will set a precedent for other fintech companies seeking to legally integrate crypto services into the U.S. banking system. However, much could still change before 2027 — both in the regulatory environment and in market conditions.