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In a major development for the fintech world, the UK-based digital bank Revolut has officially filed for a national bank charter in the United States. The company submitted its application to the Office of the Comptroller of the Currency (OCC) and the FDIC. To lead its U.S. operations, Revolut has appointed Cetin Duransoy as its new regional CEO.
If granted, the charter would allow Revolut to operate as a full-fledged bank across all 50 states. This would give the company direct access to domestic payment systems like Fedwire and ACH, significantly expanding its service offerings. Currently, Revolut operates in the U.S. through partnerships with established banks.
Cetin Duransoy joins Revolut from Raisin US, where he previously served as CEO. His experience in the American fintech market is seen as a key asset for Revolut as it navigates the complex U.S. regulatory landscape. The company plans to operate under the name "Revolut Bank US NA."
The move comes at a time of consolidation and growth in the fintech sector. Other major players, such as Mastercard and Santander, have recently completed Europe’s first live AI-driven payment pilot. Revolut’s bid for a U.S. charter signals its intention to compete directly with traditional American banking giants.
Industry analysts believe that a successful charter application could pave the way for other international neobanks to enter the U.S. market. However, the approval process is notoriously rigorous and could take several years to complete. Revolut’s leadership remains optimistic about their chances.
SUMMARY
UK neobank Revolut files for a U.S. national bank charter with the OCC and FDIC.
Cetin Duransoy appointed as the new U.S. CEO to lead the expansion.
The charter would allow Revolut to offer full banking services in all 50 states.
Move aims to provide direct access to U.S. payment systems like Fedwire.
Revolut seeks to compete directly with traditional U.S. banks and other fintechs.
HISTORY
Revolut has been gradually expanding its presence in the United States since 2020, initially offering limited services through a partnership with Metropolitan Commercial Bank.
March 2020: Revolut officially launches in the U.S. with a focus on travel and currency exchange.
July 2024: The company reaches 10 million users in the U.S. market.
January 2026: Cetin Duransoy leaves Raisin US, sparking rumors of a move to Revolut.
February 2026: Revolut signals its intent to pursue a "de novo" bank charter.
March 6, 2026: Official applications are filed with the OCC and FDIC for a national charter.