Key Takeaways
Revolut filed OCC and FDIC purposes for a US nationwide banking constitution on March 5.
The corporate suspended all US crypto providers in 2023 and is predicted to relaunch with Bitcoin and Ethereum.
The OCC granted conditional nationwide belief financial institution charters to Circle and Ripple in Dec. 2025.
March 5 (Crypto-Information.Web) – Revolut filed purposes with the Workplace of the Comptroller of the Foreign money (OCC) and the Federal Deposit Insurance coverage Company (FDIC) for a US nationwide banking constitution, a transfer that might enable the fintech firm to relaunch the crypto providers it pulled from American customers in 2023.
Constitution Submitting and Management Change
The corporate additionally appointed Cetin Duransoy as its new US CEO, in line with a Reuters report. Duransoy beforehand held senior roles at Visa and Capital One and most lately served as US CEO of financial savings market Raisin. He replaces Sid Jajodia, who’s shifting to a worldwide chief banking officer function. Revolut founder and CEO Nik Storonsky mentioned, “The US is a key pillar of our international progress technique.”
Revolut plans to take a position $500 million over three to 5 years within the US market. The corporate, valued at $75 billion after a November 2025 secondary share sale, at the moment serves US shoppers by way of a partnership with Lead Financial institution. A nationwide constitution would enable Revolut to supply deposits, lending, bank cards, and crypto providers beneath federal oversight, with no need state-by-state approval.
Why Revolut Left US Crypto and What Modified
Revolut shut down all US crypto providers in 2023, citing regulatory uncertainty. Purchase orders stopped on Sept. 2, 2023, and the venue totally closed on Oct. 3, in line with a PYMNTS report. Earlier than the total shutdown, Revolut had already delisted tokens that the SEC had labeled as securities.
Revolut has mentioned it plans to return to the US crypto market, with choices anticipated to incorporate Bitcoin and Ethereum.
Regulatory Panorama Has Shifted
The OCC granted conditional nationwide belief financial institution charters to 5 crypto corporations on Dec. 12, 2025, together with Circle and funds agency Ripple, in line with an OCC press launch. Belief charters are narrower than the total nationwide financial institution constitution Revolut is looking for. They don’t enable deposit-taking or FDIC-insured accounts. The OCC had not beforehand granted charters to crypto-focused corporations at that scale.
De novo constitution purposes (new financial institution licenses granted from scratch relatively than by way of acquisition) have elevated to match 4 years of prior quantity, in line with PaySpace Journal. Revolut itself had initially deliberate to accumulate an present US financial institution however dropped that strategy in favor of the standalone OCC utility. The chartering course of stays rigorous with strict capital, governance, and compliance necessities.
Revolut’s Broader Crypto Push
Outdoors the US, Revolut has continued increasing its crypto enterprise. The corporate secured a license beneath the EU’s Markets in Crypto-Property (MiCA) framework, launched dollar-to-stablecoin swaps for 65 million customers, and its crypto head of product Leonid Bashlykov mentioned “2026 goes to be large,” in line with DL Information.
Revolut serves 70 million shoppers throughout 40 markets and is concentrating on 100 million. If the US constitution is accredited, the corporate has mentioned it plans to supply crypto buying and selling, custody, and digital asset providers alongside conventional banking merchandise.
Reporting & Enhancing by Zoran Spirkovski
