Revolut Eyes U.S. Banking License to Deliver Stablecoins and Federal Deposit Insurance

Key Highlights

• Revolut is pursuing a U.S. banking charter to provide federally insured deposits, equity trading, and cryptocurrency access including stablecoins
• A national bank charter application was submitted to the OCC in March 2026, replacing previous acquisition strategies
• U.S. CEO Cetin Duransoy indicated the bank will focus on retail and commercial clients requiring cross-border banking solutions
• Total stablecoin market capitalization has expanded to approximately $319.5 billion from $247 billion year-over-year
• Recent stablecoin launches from MoneyGram, SoFi, and Falcon Finance reflect growing institutional interest in digital dollar tokens

The London-headquartered financial technology firm Revolut is preparing to integrate stablecoin offerings into its upcoming American banking operation, based on a Wednesday Reuters report.

Cetin Duransoy, who heads Revolut’s United States division, informed Reuters that the banking platform is anticipated to become operational next year. Account holders will gain access to federally protected deposit accounts, foreign currency capabilities, securities trading, and digital asset services.

Duransoy explained that the initial customer focus will encompass both individual consumers and enterprise clients requiring international financial services, especially those conducting transactions in various currencies. Rather than establishing brick-and-mortar locations, Revolut intends to provide ATM network connectivity throughout the United States.

Regulatory Pathway Through OCC

During March 2026, Revolut formally submitted documentation for a national banking charter with the Office of the Comptroller of the Currency. This regulatory approach superseded the company’s previous strategy of purchasing an established American financial institution.

The OCC charter route enables Revolut to deliver federally guaranteed banking services nationwide under unified regulatory oversight. Duransoy came aboard during the identical month to spearhead the American expansion initiative.

This development arrives amid shifting regulatory attitudes toward cryptocurrency-integrated banking proposals. Last year witnessed no fewer than 14 OCC de novo charter applications. During the current year, both Nubank and Crypto.com secured conditional authorization for national bank establishment.

Kraken achieved a significant milestone in March by becoming the inaugural crypto-focused entity to obtain a Federal Reserve master account, granting direct participation in fundamental U.S. payment infrastructure.

Expanding Digital Dollar Ecosystem

The worldwide stablecoin sector has reached roughly $319.5 billion in total value, climbing from approximately $247 billion twelve months earlier, per DefiLlama analytics.

Revolut maintains existing stablecoin operations beyond American borders. International customers currently utilize debit cards for transactions denominated in USDT and USDC.

The fintech company joins numerous financial institutions entering this market segment. Multiple organizations have unveiled stablecoin initiatives in recent months.

SoFi, the digital banking platform, introduced SoFiUSD in December—a dollar-pegged token functioning on Ethereum and Solana networks. Last week witnessed Falcon Finance’s fUSD debut via Anchorage Digital’s issuance infrastructure, collateralized by cash reserves and short-duration Treasury securities.

Tuesday brought MoneyGram’s MGUSD announcement, developed alongside Bridge, Stripe’s stablecoin technology division. The Stellar blockchain-based token integrates directly into MoneyGram’s mobile application for dollar-denominated remittances.

Late 2025 saw the OCC grant approvals to Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos. Mastercard simultaneously broadened its integration framework to encompass USDC, PYUSD, and RLUSD for transaction settlement.

Established in 2015, Revolut currently maintains relationships with over 75 million users worldwide. The organization obtained full banking licensure in the United Kingdom earlier this year.

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