Crypto-friendly fintech giant Revolut files for U.S. banking license
Fintech giant Revolut has applied for a U.S. banking license with the OCC to operate like a traditional bank.Summary
Revolut, the U.K. fintech firm known for crypto trading, has filed an application with the Office of the Comptroller of the Currency (OCC) to obtain a U.S. banking license. If approved, this charter would enable the London-based company to function as a traditional bank in the U.S., granting it direct access to critical payment networks like Fedwire and ACH. This move follows Revolut's decision in January to pursue a de novo banking license instead of acquiring an existing U.S. bank. A license could also facilitate the launch of lending products, such as credit cards and personal loans. Currently, Revolut offers U.S. services via a partnership with Lead Bank. This potential approval would represent a major regulatory milestone for the $75 billion company outside of Europe, reinforcing its commitment to the U.S. market as part of its global digital bank strategy.
(Source：CoinDesk)