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In a strategic step toward its global ambitions, Revolut banking has taken a major regulatory leap in the United States by applying for a full bank charter. Revolut seeks U.S. banking license to operate as full-service bank U.K.-based fintech Revolut has formally applied for a U.S. banking license, a move that would allow the company to operate like a traditional bank in the world’s largest economy. The application, filed in 2024, would grant the firm direct access to key U.S. payment networks, including Fedwire and the Automated Clearing House, known as ACH. This would significantly reduce its reliance on intermediary partners. Moreover, securing a U.S. bank charter would cement Revolut’s status as a regulated financial institution in a core market. The company aims to position itself as a global digital bank rather than a simple payments or money-transfer app. However, approval would subject the firm to stringent U.S. oversight and capital requirements. From partnership model to direct banking presence Today, Revolut offers accounts and payment services in the United States via a partnership with Lead Bank, a Kansas City-based institution. Through this arrangement, Revolut provides accounts and payment capabilities without holding its own U.S. banking charter. That said, the new license would enable Revolut to shift away from this dependence and become a direct participant in the U.S. banking system. The planned charter could also allow Revolut to roll out new lending products in the country, including credit cards and personal loans. Moreover, regulators could authorize the firm to take insured deposits in its own name, expanding its revenue base beyond payment fees and foreign-exchange services. Strategic pivot from acquisition to de novo charter The U.S. license application follows Revolut’s decision in January to abandon plans to acquire an existing American bank. Instead, the company chose to pursue a so-called…

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Filed under: News - @ March 5, 2026 4:21 pm