Revolut Seeks US Bank Charter in $75B Expansion

Edgen Crypto

·Mar 05 2026, 16:02

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Key Takeaways

U.K.-based fintech giant Revolut has filed for a U.S. banking license, a strategic move to deepen its presence in the American financial market. This application with the Office of the Comptroller of the Currency (OCC) aims to secure a federal charter, which would allow the company to operate independently and expand its product offerings.

Strategic U.S. Push: Revolut, valued at approximately $75 billion, filed for a de novo U.S. banking license on March 5, 2026, to establish itself as a national bank.
Direct Market Access: A federal charter would grant Revolut direct entry to key payment networks like Fedwire and ACH, eliminating its reliance on its current partner, Lead Bank.
Broader Industry Trend: The application follows Kraken's recent approval for a Fed master account, highlighting a larger move by crypto-friendly firms to integrate directly into the U.S. banking system.

Revolut Files for US Bank Charter to Fuel $75B Growth Plan

Fintech heavyweight Revolut took a decisive step to expand in the world's largest economy on March 5, 2026, by filing an application for a U.S. banking license with the Office of the Comptroller of the Currency (OCC). The move signals a major ambition for the U.K.-based firm, which carries a valuation of approximately $75 billion. If approved, the de novo charter would permit Revolut to establish a bank from the ground up, granting it direct access to critical U.S. payment systems like Fedwire and the Automated Clearing House (ACH). This would also enable the company to independently offer lending products, such as credit cards and personal loans, moving away from its current operational partnership with the Kansas City-based Lead Bank.

Crypto-Friendly Firms Vie for Federal Oversight

Revolut's application is part of a growing trend where financial technology and cryptocurrency companies are pursuing federal charters to streamline operations and gain legitimacy within the U.S. financial system. The filing comes just one day after cryptocurrency exchange Kraken became the first in its sector to secure a Federal Reserve “master account,” giving its banking arm direct access to the Fed's payment infrastructure. This strategic shift toward federal oversight allows firms to operate under a single, unified regulatory framework rather than a complex patchwork of state-by-state rules. For Revolut, which already holds banking licenses in Europe, securing a U.S. charter is a critical milestone in its mission to build a global digital bank.