Revolut is going to ask the OCC for a US banking license. Before, they thought about buying a bank, which might have meant opening branches.
A fintech unicorn that likes cryptocurrencies According to the Financial Times on Friday, Revolut has changed its mind about buying a local lender and instead wants to apply for a banking license in the United States. This is part of the company’s ambition to grow its global presence.
The UK-based fintech has been talking to US regulators about getting a bank license through the Office for the Comptroller of the Currency (OCC), according to persons who know about the talks.
If confirmed, this move would be a big step forward for Revolut’s goal. To accelerate its international expansion, the company announced in September 2025 that it was considering purchasing a US bank.
Global Expansion Plans and Valuation
Revolut started in the UK and announced its global vision in 2025. It promised to invest $13 billion over the next five years to help the company grow internationally.
Revolut was worth $75 billion after selling shares in November, making it one of the most valuable fintechs in the world.
Last year, Sid Jajodia, the CEO of Revolut US, said, “It is our ambition to be a bank in the US.” He went on to say, “We would love to get a banking license soon, because it’s part of our objective to scale in the market.”
The executive said that the company was still looking at the options as of September 2025. They also said that anything authorities can do to make the process easier would be wonderful.
Revolut chose to get a US banking license instead of buying a local bank. They thought that the approval procedure would go faster because the Trump government is more open to cryptocurrencies.
Also, the sources suggested that buying a community bank might have forced Revolut to keep its physical branch networks.
Source: Max Karpis
Regulatory Environment and Strategic Considerations
Revolut says that its “number one” goal is to become a full-fledged UK lender, but the company still hasn’t fully rolled out as a bank with all services available to UK customers.
Revolut has been getting regulatory permissions in additional markets over the past few months as part of its larger ambition to grow globally.
The company said it got banking licenses in Colombia and Mexico in late 2025. In October, it got a Markets in Crypto-Assets Regulation license from the Cyprus Securities and Exchange Commission.