Revolut takes 'important' step toward becoming a US bank with conditional OCC approval

Fintech company Revolut says it has received preliminary approval from a key U.S. banking regulator as it seeks to become a bank in the country.

On Thursday, Revolut secured conditional approval from the U.S. Office of the Comptroller of the Currency as it makes its way to being able to directly offer banking products, from loans to stablecoins to credit cards, to customers, according to a statement.

Revolut CEO Nik Storonsky called the conditional approval "an important first step."

"It gives us the foundation to build in the world's largest financial market and bring the full Revolut experience to millions of Americans," Storonsky said in the statement.

Over the years, Revolut has obtained bank licenses in France, Australia and the UK, the company said.

The approval comes as a growing number of crypto and technology firms seek bank charters in the U.S. Over the past year, the OCC has granted conditional approvals to Coinbase, Paxos, BitGo, Ripple and Circle as the OCC takes a friendly stance toward the industry. Last month, the OCC also granted conditional approval to President Donald Trump's family-backed World Liberty Financial, which drew scrutiny over potential conflicts of interest.

The OCC's top chief, Jonathan Gould, has said that entities that engage in crypto and other novel technologies should "have a pathway to become federally supervised banks."

Since 2025, the OCC has received 40 de novo charter applications and approved 21 of those, denying two.