Revolut plans US bank and stablecoin after conditional OCC approval

Revolut has received conditional approval from the Office of the Comptroller of the Currency to form a U.S. national bank, with a 2027 launch, a $95 million capital injection and stablecoin service planned if regulators grant the remaining clearances. Summary Revolut plans to establish its national bank in Stamford, Connecticut, with about $95 million in capital. The proposed bank still requires FDIC, Federal Reserve, and final OCC approvals before opening. Checking accounts, cards, installment loans, foreign exchange, and a stablecoin are among the planned products. Revolut currently serves U.S. customers through Lead Bank rather than its own banking charter. Conditional approval moves Revolut closer to a 2027 launch Revolut said on Sep. 3 that the OCC had conditionally approved its application to establish Revolut Bank US, N.A., taking the fintech through one stage of a process that began with its charter application in March. We just received conditional approval from the U.S. OCC for our U.S. national bank charter— Revolut (@Revolut) September 3, 2026 Conditional approval does not allow the proposed bank to begin operating immediately. Revolut must satisfy the OCC’s conditions,...