Revolut’s US bet: A bank charter, a stablecoin pitch, and a graveyard of European challengers that tried before it

Revolut wants to be a bank in America, but it’s not the easiest path to walk. In March 2026, the London-based fintech filed applications with the Office of the Comptroller of the Currency and the FDIC for a national bank charter to operate as Revolut Bank US, N.A., breaking from its reliance on partner bank Lead Bank.  Co-founder and CEO Nik Storonsky called the filing “a major milestone toward our vision of building the world’s first truly global banking platform,” adding that “this charter will give us the direct control needed to innovate faster and deliver the Revolut experience to millions more Americans as we move toward our goal of 100 million customers.”  If approved, the charter would allow Revolut to operate under a single federal framework across all 50 states, connect directly to Fedwire and ACH, offer FDIC-insured deposits, and issue loans and credit cards without splitting revenue with a partner bank. Cetin Duransoy, formerly the US CEO of deposit marketplace Raisin, has been named US CEO to lead the buildout, and Revolut has pledged $500 million toward the push. The bank will be based in Stamford, Connecticut, with an office in New York. This marks Revolut’s second attempt at a US charter, after withdrawing its California application in 2023 amid regulatory pushback and concerns about internal controls.

Stablecoins and border-crossers come first

Revolut’s American roadmap leans on two ideas: stablecoins and customers who move money across currencies. The planned bank will combine FDIC-insured checking accounts, multi-currency deposits across more than 30 currencies, stock trading, crypto trading, and stablecoin services in one app. For this banking entity the initial focus will be on retail and business customers with international banking needs, particularly those managing money across currencies. That tracks with Revolut’s existing identity as a multi-currency tool for travelers and remittance senders. No US branches are planned; ATM networks will cover cash needs. …