Revolut takes another shot at securing American banking charter, appoints fresh US chief executive
The $75 billion fintech giant launches a second bid for US banking authorization after its 2021 application fell through, part of broader international expansion efforts.
Digital banking platform Revolut has submitted a fresh request for a US national banking charter, representing the firm's second effort to obtain American banking authorization as it strengthens its presence in the North American marketplace.
The financial technology firm, headquartered in London, announced on Thursday that it had delivered an application to both the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation with the goal of creating "Revolut Bank US, N.A."
Alongside the charter application, the organization has named seasoned fintech executive Cetin Duransoy to serve as the firm's new chief executive for US operations. Duransoy possesses over twenty years of professional experience spanning banking, payment processing and technological innovation. His most recent position was serving as US CEO of fintech marketplace platform Raisin. Duransoy takes over from Sid Jajodia, who will continue with Revolut in the role of global chief banking officer.
"The United States is a key pillar of our global growth strategy," Revolut founder and CEO Nik 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," he added.
US bank charter would unlock nationwide operations
Should regulators grant approval, the banking license would enable Revolut to function under a unified federal regulatory structure throughout all 50 US states. The charter would additionally provide the firm with direct connectivity to payment networks including Fedwire and ACH, permit the offering of FDIC-insured deposit accounts, and facilitate expansion into financial products like personal loans and credit cards.
The company made a prior attempt to obtain a US banking license in 2021 by working with California state regulators. That initiative encountered obstacles and was ultimately pulled back in 2023 due to regulatory challenges and questions regarding internal control mechanisms.
According to Revolut, the platform presently supports more than 70 million customers worldwide and maintains operations across 40 markets. In November 2025, the firm concluded a secondary share transaction that assigned the company a valuation of $75 billion.
The decision by Revolut to pursue a US banking license arrives as the firm pivots away from previous strategies to acquire an existing American banking institution as part of its global expansion initiatives.
More fintech firms seek OCC bank charters
An increasing number of fintech and cryptocurrency companies are pursuing US banking licenses through the OCC. In January, Nubank received conditional approval from the regulator to establish a national bank in the United States, while crypto exchange Crypto.com secured similar approval in February.
In December 2025, the OCC also conditionally approved five national bank charter applications for Circle, Ripple, BitGo, Fidelity Digital Assets and Paxos.