Revolut secures provisional banking license in the United States

British neobank Revolut has announced that it has received conditional approval from the U.S. banking regulator, the OCC. This is a major milestone paving the way for a commercial launch slated for the first half of 2027, which will feature traditional banking services and access to cryptocurrencies. The article Revolut secures provisional banking license in the United States appeared first on Cryptoast.

British fintech Revolut has reached a pivotal milestone in its international expansion by securing conditional approval from the Office of the Comptroller of the Currency (OCC) in the United States. This regulatory green light marks the beginning of a rigorous process to obtain a full federal banking license, a prerequisite for operating independently in the U.S. market. While this authorization is a strategic victory, the group must still secure critical approvals from the Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC) to guarantee future customers' deposits.

Currently, the neobank offers its services across the Atlantic through a local partner, Lead Bank. Obtaining its own license would represent a major paradigm shift: it would allow the company to offer financial services directly, including deposit protection of up to $250,000. The commercial rollout, led by Revolut US management, is now slated for the first half of 2027, featuring a full suite of traditional banking products such as checking accounts, savings, and credit.

Beyond retail banking, the digital dimension is central to this expansion strategy. The group plans to integrate a robust offering for digital assets, including access to cryptocurrencies and stablecoins. This ambition is part of a global drive, illustrated by the recent launch of a euro-backed stablecoin. This technological focus reflects a desire to bridge traditional financial services with the opportunities offered by blockchain, within a U.S. regulatory environment that appears increasingly favorable to such initiatives.

The stakes for Revolut are significant: achieving its goal of 100 million customers by 2027. With nearly 80 million current users, the firm is banking on the North American market to drive its growth. This offensive is complemented by sustained geographical expansion in Latin America and consolidation in Europe, where the fintech has recently strengthened its institutional presence. By establishing a lasting foothold in the United States, Revolut is not only seeking to capture new segments but also aims to become a global banking player capable of competing with traditional financial institutions on their own turf.