Fintech giant Revolut has officially filed a new application for a U.S. national bank charter, marking a renewed and decisive push to secure a federal banking license after its initial attempt stalled in 2021. The company, valued at $75 billion following a major secondary share sale in late 2025, submitted the application to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC).
If approved, the license would establish Revolut Bank US, N.A., allowing the company to operate under a single federal regulatory framework across all 50 states. This structure is deemed essential for delivering a consistent customer experience and expanding its product suite. The charter would grant Revolut direct access to critical payment systems like Fedwire and ACH, the ability to offer FDIC-insured deposits, and the opportunity to launch new products such as personal loans and credit cards.
In a parallel strategic move, Revolut appointed fintech veteran Cetin Duransoy as its new U.S. CEO to lead the expansion effort. Duransoy, with over two decades of experience at firms like Raisin, Capital One, and VISA, replaces Sid Jajodia, who transitions to the role of global chief banking officer. The leadership change is aimed at accelerating growth in the competitive American market.
This application is a cornerstone of Revolut's broader global strategy, which aims to reach 100 million customers and expand into 30 additional markets by 2030. The company currently serves over 70 million customers across 40 markets, with recent launches in Mexico, India, and the UAE. The move aligns with a trend of fintech and crypto firms, including Nubank, Crypto.com, Circle, and Ripple, seeking deeper regulatory integration in key markets.
