Revolut is preparing to launch a U.S. bank next year, with FDIC-insured accounts, stablecoins, multi-currency deposits, stock trading, and crypto trading included in the planned offering. Reuters, citing newly appointed Revolut U.S. CEO Cetin Duransoy, said the British fintech is stepping up its push into the American market with a digital-first banking model.
No physical branches in the U.S. rollout
According to the report, Revolut does not intend to open physical branches in the United States. Customers would instead use ATM networks for cash access. Duransoy said the company will first target retail and business users with international banking needs, especially those who need access to multiple currencies such as dollars, rupees, and Latin American currencies. Reuters said Revolut’s app already supports services in more than 30 currencies.
Bank charter filing was submitted in March
Reuters reported that Revolut filed for a U.S. national bank charter with the Office of the Comptroller of the Currency in early March. The move followed the company’s decision to abandon an earlier plan to acquire a U.S. lender. The proposed bank would be based in Stamford, Connecticut, with another office in New York.
Stablecoins to sit alongside insured accounts
The planned U.S. platform would combine traditional insured banking products with crypto-linked services. Reuters said the lineup includes FDIC-insured checking accounts and high-yield investment accounts, while stablecoins and digital asset trading would be available through the same interface. The report also placed Revolut’s filing within a broader wave of charter applications from crypto- and fintech-linked firms, noting that U.S. regulators including the OCC have become more open to such applications.
Reuters also pointed to Kraken, which in March became the first crypto-native company to receive a “skinny” master account with the Federal Reserve. The account gives Kraken direct access to core U.S. payment systems.
U.S. growth remains central to Revolut’s plan
Reuters said Revolut serves 75 million customers globally and has around 1 million customers in the United States. Duransoy said many of those U.S. users first adopted the app while traveling or living in Europe, Latin America, or Asia. Earlier this year, the company also received approval to launch a fully licensed bank in the United Kingdom, part of its long-running effort to build what it has described as a global bank.
On the financial side, Reuters reported that Revolut generated 4.5 billion pounds, or about $6 billion, in revenue last year. Net profit reached 1.3 billion pounds, or roughly $1.75 billion. The privately held company was valued at $75 billion in its latest funding round, and CEO Nik Storonsky has said publicly that Revolut does not plan to go public before 2028.
Its crypto activity has also expanded. Last year, Revolut worked with Polygon to support remittances, POL staking, and crypto card payments inside its main app. Reuters added that the company was selected by the Financial Conduct Authority for a fiat-pegged stablecoin sandbox payments trial.