Revolut aims to expand in the United States with a banking license

Revolut, the London-headquartered fintech company, has officially applied for a banking license in the United States. The application has been submitted to both the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC).

The company plans to invest $500 million in the US market to support its expansion. At the same time, Revolut announced the appointment of a new CEO for its US operations, coming from Visa.

The move represents a significant step for Revolut, which already in 2021 had expressed its intention to obtain a banking license in the USA. Obtaining the license would allow Revolut to offer a wider range of financial services to US customers, consolidating its presence in the market.