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 anticipated 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.Internet) – 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 would permit 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, based on a Reuters report. Duransoy beforehand held senior roles at Visa and Capital One and most just lately served as US CEO of financial savings market Raisin. He replaces Sid Jajodia, who’s transferring to a worldwide chief banking officer position. Revolut founder and CEO Nik Storonsky mentioned, “The US is a key pillar of our world development technique.”
Revolut plans to speculate $500 million over three to 5 years within the US market. The corporate, valued at $75 billion after a November 2025 secondary share sale, presently serves US purchasers by way of a partnership with Lead Financial institution. A nationwide constitution would permit Revolut to supply deposits, lending, bank cards, and crypto providers underneath 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, based on a PYMNTS report. Earlier than the complete 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, based on an OCC press launch. Belief charters are narrower than the complete nationwide financial institution constitution Revolut is searching for. They don’t permit 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 quite than by way of acquisition) have elevated to match 4 years of prior quantity, based on PaySpace Journal. Revolut itself had initially deliberate to accumulate an present US financial institution however dropped that strategy in favor of the standalone OCC software. The chartering course of stays rigorous with strict capital, governance, and compliance necessities.
Revolut’s Broader Crypto Push
Exterior the US, Revolut has continued increasing its crypto enterprise. The corporate secured a license underneath 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 huge,” based on DL Information.
Revolut serves 70 million purchasers throughout 40 markets and is concentrating on 100 million. If the US constitution is permitted, the corporate has mentioned it plans to supply crypto buying and selling, custody, and digital asset providers alongside conventional banking merchandise.
Reporting & Modifying by Zoran Spirkovski
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