Revolut Seeks U.S. Bank Launch With Stablecoins in Product Suite

Revolut is preparing to expand its U.S. operations through a planned national bank launch, following its application for a U.S. national bank charter earlier this year.

According to Cetin Duransoy, Revolut’s recently appointed U.S. CEO, the digital banking firm expects to begin operating its U.S. bank next year, offering FDIC-insured financial products alongside digital asset and multi-currency services.

U.S. Bank to Combine Traditional and Digital Financial Services

The planned banking operation is expected to provide customers with access to FDIC-insured checking accounts, high-yield savings products, stablecoins, multi-currency deposits, and trading services covering both equities and cryptocurrencies.

Duransoy told Reuters that the bank will be headquartered in Stamford, Connecticut, with an additional office in New York. The institution will operate without physical branches, relying instead on digital channels and access to ATM networks.

The expansion follows Revolut’s application for a national bank charter in March, a move that would allow the company to broaden its financial services offering in one of its largest growth markets.

International Users Form Initial Target Market

Revolut plans to initially focus on customers with cross-border financial needs, leveraging its existing infrastructure that supports transactions and accounts in more than 30 currencies.

According to Duransoy, the bank will target both retail and business clients who regularly transact across multiple currencies, including the U.S. dollar, Indian rupee, and several Latin American currencies.

The strategy reflects Revolut’s existing global customer base, many of whom first used the platform while living, working, or traveling internationally.

U.S. Market Remains a Growth Opportunity

Revolut currently serves approximately 75 million customers globally, including around one million users in the United States.

While the company has built a strong presence across Europe, Asia, and Latin America, its U.S. operations remain comparatively small relative to its global footprint, positioning the planned banking expansion as a key driver of future growth in the market.

The U.S. initiative also forms part of a broader multi-jurisdiction regulatory expansion strategy. This includes in-principle approval from the Central Bank of the UAE for Stored Value Facilities and Retail Payment Services (Category II) licenses, underscoring Revolut’s continued efforts to secure regulated operating frameworks across major international markets as it builds out its global financial infrastructure.

Profitable Growth Supports Expansion Strategy

The company reported£4.5 billion in revenue and £1.3 billion in net profit last year, underscoring its continued growth as one of the world's largest privately held fintech firms.

Revolut was most recently valued at approximately $75 billion in a funding round and remains privately owned. Chief Executive Officer Nik Storonsky has previously stated that the company does not intend to pursue a public listing before 2028.

Digital Banking Competition Intensifies

The planned U.S. bank launch places Revolut among a growing group of fintech firms seeking to combine traditional banking services with digital asset functionality under regulated structures.

If approved, the bank would provide U.S. customers with access to both conventional banking products and digital asset services through a single platform, reflecting the broader convergence of fintech, payments, and digital finance infrastructure.