Revolut plans to launch a U.S. bank that will offer FDIC-insured products, stablecoin access, and trading in stocks and cryptocurrencies, U.S. chief executive Cetin Duransoy told Reuters on Tuesday. The British fintech applied for a U.S. national bank charter in March, submitting its application to the Office of the Comptroller of the Currency and the FDIC and naming Duransoy as U.S. CEO. A federal charter would let Revolut offer insured deposits directly rather than through partner banks, while gaining access to Federal Reserve payment rails such as Fedwire and ACH. Duransoy stated the bank will begin operating in 2027, headquartered in Stamford, Connecticut, with an additional office in New York. Revolut serves 75 million customers worldwide, with about 1 million in the United States, and reported revenue of 4.5 billion pounds, or $6 billion, and net profit of 1.3 billion pounds, around $1.75 billion, last year.
Revolut Structures U.S. Bank with Stablecoins and Multi-Currency Deposits
U.S. clients will gain access to stablecoins, deposits in multiple currencies, and trading in stocks and cryptocurrencies through the platform, according to Duransoy. The bank will route customers through ATM networks rather than physical branches, keeping the operation fully digital. The stablecoin offering would extend a feature Revolut already runs elsewhere, having introduced 1:1 USD-to-stablecoin swaps for USDC and USDT that let users convert fiat to crypto without fees or spreads. That product gave its existing customer base a fee-free route between dollars and digital assets.
Revolut Targets Cross-Border Customers in Initial U.S. Rollout
Revolut will first court customers who move money across borders. "We'll begin by focusing on business and retail customers that need multiple currencies, such as dollars, rupees or Latin American currencies," Duransoy said in the interview. The app currently supports more than 30 currencies. Most of the company's American users encountered the platform through experiences in Europe, Latin America, or Asia before adopting it at home.
Revolut Reports Revenue and Participates in UK Regulatory Sandbox
Revolut reported revenue of 4.5 billion pounds, or $6 billion, and net profit of 1.3 billion pounds, around $1.75 billion, last year. The privately held firm carried a $75 billion valuation in its most recent funding round. The Financial Conduct Authority in the UK selected Revolut for a dedicated stablecoin cohort within its Regulatory Sandbox to test issuance and payment use cases under the country's proposed framework. Chief executive Nik Storonsky has said publicly that Revolut does not plan to list its shares before 2028.
FAQ
What services will Revolut's U.S. bank offer?
Revolut's U.S. bank will offer FDIC-insured products, stablecoin access, deposits in multiple currencies, and trading in stocks and cryptocurrencies. The bank will route customers through ATM networks rather than physical branches, keeping the operation fully digital.
When did Revolut apply for a U.S. national bank charter?
Revolut applied for a U.S. national bank charter in March, submitting its application to the Office of the Comptroller of the Currency and the FDIC. U.S. chief executive Cetin Duransoy stated the bank will begin operating in 2027, headquartered in Stamford, Connecticut, with an additional office in New York.
How many customers does Revolut serve worldwide?
Revolut serves 75 million customers worldwide, with about 1 million in the United States. The company reported revenue of 4.5 billion pounds, or $6 billion, and net profit of 1.3 billion pounds, around $1.75 billion, last year, and carried a $75 billion valuation in its most recent funding round.
