Revolut Gets Conditional US Bank Approval, Plans Stablecoin and Crypto Access

Points of Focus

• The OCC granted Revolut conditional approval for a US national bank charter.
• The bank will explicitly offer stablecoins and cryptocurrencies once launched.
• Revolut is one of 13 pending digital asset applications in the same OCC pipeline.

The Office of the Comptroller of the Currency (OCC) granted Revolut conditional approval to form Revolut Bank US, N.A. The Federal Deposit Insurance Corporation (FDIC) and Federal Reserve approvals remain pending before a planned 2027 launch.

Next up:

• Approvals from the FDIC and Fed
• Looking to launch as an operational bank in 2027

In the US, banking services are currently provided by Lead Bank, Member FDIC. Fees may apply. See https://t.co/GrpIxnWAiV for details.

— Revolut (@Revolut) September 3, 2026

Revolut US CEO Cetin Duransoy stated the eventual bank will offer “loans, credit cards, FDIC-insured deposits, as well as access to stablecoins and cryptocurrencies.”

Revolut’s US bank charter is a second attempt

This isn’t Revolut’s first try at US banking access. It first pursued a California license in 2021. That effort was withdrawn in 2023 following regulatory obstacles and concerns about internal controls.

Revolut later explored acquiring an existing US bank instead. It dropped that plan in January and filed this de novo charter application in early March. The pivot appears to have paid off given the roughly six-month approval timeline that followed.

Revolut’s stablecoin plans span two continents

This approval lands directly on top of Revolut’s EURR stablecoin rollout, launched roughly a week earlier across Denmark, Poland, and Portugal.

EURR is Revolut’s first stablecoin: designed to maintain a value of €1.00, and backed by reserves held and managed by our EU-licensed issuer, @Stablecoin, in accordance with MiCA regulations.

— Revolut (@Revolut) August 26, 2026

A US charter with explicit stablecoin ambitions suggests Revolut is building parallel regulated crypto infrastructure on both sides of the Atlantic, not treating its European launch as an isolated product.

Revolut joins a growing OCC crypto charter pipeline

Revolut is one entry in a rapidly expanding federal charter pipeline, not an isolated approval. American Banker’s tracking shows Payoneer separately applied for a trust charter specifically to issue its own dollar-pegged stablecoin, PAYO-USD. Foris DAX, Crypto.com’s parent company, received conditional approval for its own trust subsidiary around the same period.

December 2025 saw conditional approvals for Circle, Ripple, Paxos, BitGo, and Fidelity Digital Assets. Coinbase, Nubank, and Crypto.com followed through the first half of 2026. Payward, Kraken’s parent company, also holds a pending OCC trust charter application in the same pipeline, separate from its own recent Commodity Futures Trading Commission-focused derivatives push.

OCC’s charter pace has accelerated sharply

The scale of this shift is precise and worth stating exactly. The OCC received just 48 de novo charter applications total between 2011 and 2024.

It received 40 applications in the past 18 months alone. OCC Comptroller Jonathan Gould has called the acceleration “a sign of a healthy banking system.”

Not every OCC charter application succeeds

Approval isn’t automatic, even for well-capitalized applicants. Revolut and Zerohash filed for OCC charters on the same day in March. Their paths have since diverged sharply. Revolut now holds conditional approval, while Zerohash’s original application was returned without a decision in July and had to be refiled more narrowly.

OCC records also show Wise National Trust’s application was denied in July. Separately, a company tied to World Liberty Financial, a crypto venture associated with the Trump family, received preliminary conditional approval for its own OCC trust charter in August, part of the same broader pipeline this Revolut approval sits within.

OCC’s crypto bank expansion faces political pushback

The broader expansion isn’t uncontested either. It has drawn criticism from Senator Elizabeth Warren and the Bank Policy Institute, both of which have questioned whether these charters exceed the OCC’s statutory authority.

That debate remains unresolved even as approvals continue moving through the pipeline at a historically fast pace.