Key facts
- Revolut has received conditional approval from the Office of the Comptroller of the Currency for a US national bank charter.
- The fintech company is also seeking approval from the Federal Reserve and the Federal Deposit Insurance Corporation.
- Revolut aims to launch its US bank as early as next year.
- Revolut Founder and CEO Nik Storonsky stated the OCC approval is an important first step.
Revolut has moved a step closer to launching a bank in the United States after securing conditional approval from the Office of the Comptroller of the Currency for its national bank charter. The UK-based fintech is currently awaiting further approvals from the Federal Reserve and the Federal Deposit Insurance Corporation, which are necessary before it can proceed with its plans to open a US bank, potentially as early as next year.