UK-based Revolut has filed an application with the US Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) for a US national bank charter, to be named Revolut Bank US, N.A.
The filing was announced on 5 March 2026 and marks a significant step in the company's North American expansion strategy.
Alongside the charter application, Revolut has appointed Cetin Duransoy as US CEO. Duransoy succeeds Sid Jajodia, who remains at the company as Global Chief Banking Officer.
Strategic rationale for the charter
A US national bank charter would provide Revolut with direct access to federal payment rails, including Fedwire and ACH, the ability to offer FDIC-insured deposits, and authorisation to provide personal loans and credit cards directly to US customers. It would also allow the company to operate across all 50 states under a single federal regulatory framework, removing the need to maintain state-by-state licensing arrangements.
Nik Storonsky, Co-founder and CEO of Revolut, said the US is a key pillar of the company's global growth strategy, and that a national bank charter would provide the direct control needed to innovate faster and deliver its services to more Americans, as part of its goal of reaching 100 million customers.
Global expansion context
As of March 2026, Revolut operates in 40 markets and serves more than 70 million customers worldwide. Recent milestones include the launch of banking operations in Mexico, the securing of a payments licence in India, an in-principle payments licence in the UAE, and the opening of a new global headquarters in London. The company has stated an ambition to expand into 30 new markets by 2030 and reach 100 million customers by mid-2027.
In November 2025, Revolut completed a secondary share offering that raised its valuation to USD 75 billion, positioning it among the most valuable private technology companies globally. The US bank charter application remains subject to regulatory review and approval by the OCC and FDIC.
