Revolut Receives OCC Approval for Bank with Stamford HQ

The fintech Revolut has received conditional approval from the U.S. Office of the Comptroller of the Currency to set up a bank to be headquartered in Stamford. Revolut had applied to the OCC for a U.S. national bank charter. 'We're grateful for the OCC's open and transparent dialogue throughout this process,' Revolut U.S. CEO Cetin Duransoy said in a statement. 'They were both diligent and expedient with our application, allowing us to remain on track for a 2027 launch of our proposed national bank.' Revolut, which has primarily grown in popularity in the United Kingdom and the European continent, has been focused on expansion across the other side of the Atlantic Ocean. It has been securing banking licenses and launching operations throughout Latin America, and it recently launched its Mexican Bank and has been advancing regulatory efforts in Brazil and Colombia. Revolut has also obtained bank licenses in France and Australia, a payments license in the UAE, and is progressing a bank license application in South Africa. 'Conditional OCC approval is an important first step towards establishing the proposed Revolut Bank US,' Revolut Founder and CEO Nik Storonsky said in a statement. 'it gives us the foundation to build in the world's largest financial market and bring the full Revolut experience to millions of Americans.'