Key Highlights
- Revolut is preparing to establish a US banking entity featuring FDIC-protected deposits, equity trading capabilities, and stablecoin functionality
- In March 2026, the fintech submitted an application for a national banking charter through the OCC, abandoning previous acquisition strategies
- According to US CEO Cetin Duransoy, the institution will focus on consumers and enterprises requiring cross-border banking solutions
- Stablecoin market capitalization has expanded to approximately $319.5 billion from $247 billion twelve months prior
- Multiple financial entities including MoneyGram, SoFi, and Falcon Finance have unveiled stablecoin products in recent months
The British financial technology firm Revolut intends to incorporate stablecoin offerings into its planned American banking operations, according to a Wednesday Reuters publication.
Cetin Duransoy, who heads Revolut’s American division, informed Reuters that the banking platform should become operational within the coming year. Users will gain access to deposit accounts with federal insurance protection, multi-currency holdings, securities trading, and digital currency capabilities.
Duransoy indicated the organization’s strategy focuses primarily on individuals and commercial entities managing international financial activities, especially those handling diverse currencies. The company has no intentions of establishing physical locations throughout the US but will provide ATM network connectivity for customers.
Regulatory Application Process
During March 2026, Revolut submitted documentation to obtain a national banking charter through the Office of the Comptroller of the Currency. This strategic pivot superseded the firm’s original intent to purchase an established American banking institution.
The OCC filing provides Revolut with an avenue to deliver federally protected financial products nationwide through a unified regulatory structure. Duransoy came aboard the organization during that identical timeframe to spearhead American market expansion initiatives.
This development arrives as American financial regulators have demonstrated increased receptiveness toward cryptocurrency-related banking proposals. The previous year witnessed no fewer than 14 de novo banking charter applications submitted to the OCC. During the current year, both Nubank and Crypto.com secured provisional authorization to create national banking entities.
Kraken achieved a milestone in March by becoming the inaugural crypto-focused company to obtain a master account through the Federal Reserve, granting direct connectivity to fundamental American payment infrastructure.
Expanding Digital Currency Ecosystem
Worldwide stablecoin market valuation has climbed to roughly $319.5 billion, representing growth from approximately $247 billion during the same period last year, based on DefiLlama information.
Revolut maintains existing involvement in stablecoin operations beyond American borders. Customers in international territories can utilize the company’s payment cards for transactions involving USDT and USDC.
The organization faces competition as numerous financial institutions have introduced proprietary stablecoin solutions.
This past December, digital banking provider SoFi unveiled SoFiUSD, a dollar-pegged token functioning across Ethereum and Solana networks. The previous week saw Falcon Finance debut fUSD via Anchorage Digital’s issuance infrastructure, supported by liquid assets and short-duration US government debt instruments.
Tuesday marked MoneyGram’s announcement of MGUSD through collaboration with Bridge, the stablecoin platform acquired by Stripe. The Stellar network-based token integrates directly into MoneyGram’s mobile application, facilitating dollar-denominated remittances.
Toward the end of 2025, Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos all secured OCC regulatory approvals. Mastercard similarly broadened its framework to accommodate USDC, PYUSD, and RLUSD for transaction settlement purposes.
Revolut’s establishment dates to 2015, with current operations serving an excess of 75 million users across international markets. The firm obtained regulatory clearance to operate a comprehensive licensed banking institution within the United Kingdom during the earlier portion of this year.
