Revolut Wins Conditional OCC Approval to Establish U.S. National Bank
Revolut has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national bank in the United States, bringing the fintech company closer to directly offering banking services to American customers.
The approval could eventually allow Revolut to provide a broader range of financial products in the U.S., including deposit accounts, loans, credit cards and stablecoins. The company currently relies on partnerships with financial institutions to provide banking services to its American customers.
A national bank charter would give Revolut greater direct control over its banking operations, products, infrastructure and customer services. Revolut CEO Nik Storonsky described the OCC's conditional approval as an important step in the company's expansion into the U.S. market.
The approval, however, does not mean Revolut can immediately begin operating as a fully authorized national bank. The company must first meet conditions imposed by the OCC before receiving final authorization to commence its proposed banking operations.
Revolut's U.S. Banking Expansion Depends on OCC Conditions
The remaining requirements are intended to ensure that Revolut's proposed bank can operate under federal banking supervision. They include areas such as capital, liquidity management, governance, cybersecurity, compliance and consumer protection.
Revolut will therefore need to demonstrate that its planned U.S. banking institution can meet the OCC's standards before moving from conditional approval to full authorization.
If the company ultimately receives the final approval, a national charter could reduce its dependence on external banking partners and give it greater control over how financial products are developed and delivered to U.S. customers.
The move comes as U.S. regulators have increasingly provided banking pathways for financial technology and cryptocurrency-related companies.
OCC Has Approved Several Crypto-Related Banking Applications
Over the past year, the OCC has conditionally approved applications involving Coinbase, Paxos, BitGo, Ripple and Circle. The regulator has also granted conditional approval to World Liberty Financial, a cryptocurrency venture supported by President Donald Trump's family.
The World Liberty Financial decision drew scrutiny over potential conflicts of interest involving the president and his family's cryptocurrency activities.
Comptroller Jonathan Gould has supported creating federal regulatory pathways for businesses involved in cryptocurrency and other emerging financial technologies.
The broader regulatory activity has given fintech and digital-asset companies additional opportunities to pursue federally supervised banking structures, although conditional approval does not eliminate the requirements imposed during the regulatory process.
Revolut Must Complete Final Requirements Before Launch
The OCC has received 40 applications since 2025 from groups seeking to establish new banking institutions. Of those applications, 21 have been approved and two have been denied, while other applications remain under review.
Revolut already operates with banking licenses in France, Australia and the United Kingdom. Its existing international banking experience could support its efforts to satisfy the remaining U.S. regulatory conditions and build the infrastructure required for a national bank.
For Revolut, the next stage is completing the OCC's conditions rather than immediately launching a new U.S. banking operation. Final authorization would be required before the company can begin operating its proposed national bank.
If that approval is secured, the charter could allow Revolut to expand its regulated financial offerings in the United States while reducing its reliance on third-party financial institutions.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.