Digital bank Revolut has officially applied for a US national bank charter. The submission to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation seeks to create Revolut Bank US, N.A., enabling the London-based firm to operate as a full-fledged bank across all 50 states. This move represents a pivotal advancement in Revolut’s North American strategy, building on its recent scaling in Mexico.
With over 70 million customers worldwide, the company currently relies on partnerships—such as with Lead Bank—to deliver services in the US.
A successful charter would change that dramatically, granting direct access to Federal Reserve payment networks like Fedwire and ACH, FDIC-insured deposits, and the ability to roll out lending products, credit cards, and enhanced customer experiences under full ownership.
To spearhead U.S. operations, Revolut has named Cetin Duransoy—formerly of Visa and Capital One—as its new American CEO, signaling a commitment to experienced leadership in navigating complex regulations.
The application arrives amid ongoing delays in securing full UK banking authorization, highlighting the firm’s pivot toward faster growth opportunities in the world’s largest economy.
Revolut is far from alone in targeting America’s lucrative but fiercely contested financial sector.
Digital challengers are pursuing similar paths, underscoring the intense race for market share.
Brazil’s Nubank, serving 127 million customers mainly in Latin America, received conditional OCC approval in January 2026 to establish Nubank N.A.
The charter paves the way for deposit accounts, credit cards, lending, and digital asset custody, with a targeted U.S. launch in 2027.
This marks Nubank’s first major expansion beyond its regional stronghold, leveraging its expertise in serving underserved populations to challenge incumbents.
Adding further complexity, homegrown U.S. players like SoFi Technologies are already blurring lines between traditional finance (TradFi) and decentralized finance (DeFi).
Armed with its own national bank charter, SoFi became the first nationally chartered bank to offer direct consumer crypto trading in late 2025.
It is now integrating blockchain features deeply into its ecosystem, including plans for its SoFiUSD stablecoin, borrowing against crypto holdings, staking, and seamless cross-border payments.
Recent collaborations, such as with Mastercard for stablecoin settlement on its global network, position SoFi as a pioneer in responsible innovation that combines regulatory trust with cutting-edge digital tools.
These developments illustrate how fintechs are reshaping banking, yet they also reveal the daunting hurdles in a saturated U.S. market.
Regulatory scrutiny remains rigorous, customer acquisition costs are high, and competition from both legacy banks and agile startups demands constant differentiation through technology and service quality.
For Revolut and competitors like Nubank, success will depend on executing flawlessly while SoFi’s established TradFi-DeFi bridge raises the innovation bar even higher. Ultimately, Revolut’s filing could accelerate a wave of global digital banks gaining full U.S. footholds.
