Revolut Applies for U.S. Bank License, Plans to Operate by 2027
Fintech company Revolut has applied for a national bank license with the U.S. Office of the Comptroller of the Currency, planning to formally operate by 2027, offering diversified financial services including FDIC-insured accounts and stablecoins.
What are the key facts?
- 1Revolut
- 2U.S. bank license
- 32027
- 4stablecoin services
What happened?
Revolut is actively seeking a bank license in the U.S., aiming to start operations in 2027. The planned services will include traditional banking products and cryptocurrency trading, aiming to further expand its financial footprint in the U.S. market.
What does this mean for cross-border sellers?
The diversification of cross-border payment tools will offer sellers more options for fund management. Revolut's entry may reduce cross-border settlement costs, and sellers should follow its subsequent service developments.