Revolut Applies for U.S. Banking License, Plans to Begin Operations in 2027
Fintech company Revolut has applied to the Office of the Comptroller of the Currency for a national banking license in the United States and plans to begin operations in 2027, offering diversified financial services including FDIC-insured accounts and stablecoins.
What are the key facts?
- 1Revolut
- 2U.S. banking license
- 32027
- 4Stablecoin services
What happened?
Revolut is actively applying for a U.S. banking license, with the goal of launching operations in 2027. Its planned services cover traditional banking products and cryptocurrency trading, as it seeks to further expand its financial presence in the U.S. market.
What does this mean for cross-border sellers?
Greater diversity among cross-border payment tools will give sellers more options for fund management. Revolut’s entry could reduce cross-border settlement costs, so sellers should monitor the development of its services.