Key Highlights
- Revolut is preparing to establish a US banking entity that will provide FDIC-insured deposits, equity trading, and stablecoin functionality
- In March 2026, the fintech submitted a national bank charter application to the OCC, abandoning previous acquisition strategies
- US CEO Cetin Duransoy indicated the institution will focus on retail and commercial clients requiring cross-border financial services
- Total stablecoin market capitalization has climbed to approximately $319.5 billion from $247 billion twelve months prior
- Multiple competitors including MoneyGram, SoFi, and Falcon Finance have introduced proprietary stablecoins in recent months
UK-based financial technology company Revolut intends to integrate stablecoin offerings into its planned American banking operations, Reuters reported this Wednesday.
Cetin Duransoy, who heads Revolut’s American division, informed Reuters that the banking platform is scheduled to become operational within the coming year. Account holders will gain access to federally insured deposits, multi-currency account options, securities trading capabilities, and digital asset services.
According to Duransoy, the initial customer base will comprise individual consumers and business entities requiring international financial solutions, especially those conducting transactions in various currencies. The company has decided against establishing brick-and-mortar locations throughout the United States, instead providing customers with ATM network connectivity.
Regulatory Submission Details
During March 2026, Revolut filed for a national banking charter through the Office of the Comptroller of the Currency. This strategic pivot marked the abandonment of its previous approach to purchase an established American financial institution.
Securing OCC approval would enable Revolut to deliver federally protected banking services nationwide under unified regulatory oversight. Duransoy came aboard during the same timeframe to spearhead the company’s American expansion initiatives.
This development aligns with increasing regulatory receptiveness toward cryptocurrency-integrated banking proposals. Throughout the previous year, the OCC received no fewer than 14 de novo charter applications. During the current period, both Nubank and Crypto.com obtained conditional authorization to operate national banking institutions.
Kraken achieved a significant milestone in March by becoming the inaugural crypto-focused company to secure a master account with the Federal Reserve, granting direct connectivity to fundamental US payment infrastructure.
Expanding Stablecoin Ecosystem
Global stablecoin market valuation has reached roughly $319.5 billion, representing substantial growth from the $247 billion recorded one year earlier, based on DefiLlama statistics.
Revolut maintains an existing presence in international stablecoin markets. Customers in supported jurisdictions can utilize debit cards for transactions involving USDT and USDC.
The financial services sector has witnessed numerous entrants in this domain. Various institutions have unveiled their own stablecoin solutions recently.
Last December, digital banking platform SoFi unveiled SoFiUSD, a fiat-pegged token operational on Ethereum and Solana networks. The previous week saw Falcon Finance debut fUSD via Anchorage Digital’s issuance infrastructure, with reserves consisting of cash holdings and short-maturity US Treasury instruments.
This Tuesday, MoneyGram announced MGUSD in collaboration with Bridge, Stripe’s stablecoin technology provider. The Stellar blockchain-based token integrates directly within the MoneyGram application and facilitates dollar-denominated fund transfers.
During late 2025, regulatory approvals from the OCC were granted to Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos. Mastercard has similarly broadened its settlement capabilities to encompass USDC, PYUSD, and RLUSD.
Established in 2015, Revolut currently maintains a customer base exceeding 75 million users worldwide. The organization secured complete banking license approval in the United Kingdom earlier this year.
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