British fintech giant Revolut has officially begun the process of obtaining a full-fledged banking license in the US. As it became known on Thursday, the company, which in November 2025 was valued at $75 billion, has submitted relevant requests to US regulatory authorities (OCC and FDIC). This is reported by Bloomberg.
Currently, Revolut operates in the US through partner banks. Obtaining its own national bank status (Revolut Bank US, N.A.) will fundamentally change the company’s business model:
- The company will be able to directly connect to the Federal Reserve’s payment systems.
- ґClient funds will be insured at the federal level (up to $250,000 per account).
- Revolut will be able to issue personal loans and credit cards independently, without intermediaries.
- In addition, partner banks’ refusal will significantly reduce operating costs.
To implement its ambitious plans, Revolut has appointed Jetin Duranso, a former top executive at Visa and Capital One, as its regional CEO in the US.
Founder Nick Storonsky called the move “a key pillar of our global growth strategy.” Revolut already has over a million customers in the US and plans to invest $500 million in the market over the next 3-5 years.