Revolut Plans US Bank With Stablecoins and FDIC-Insured Accounts

TLDR

• Revolut plans to launch a US bank offering FDIC-insured accounts, stock trading, and stablecoin access
• The company applied for a national bank charter with the OCC in March 2026, dropping earlier plans to acquire an existing US bank
• Revolut’s US CEO Cetin Duransoy said the bank will target retail and business customers with international banking needs
• The stablecoin market has grown to around $319.5 billion, up from $247 billion a year ago
• Several other firms — including MoneyGram, SoFi, and Falcon Finance — have recently launched their own stablecoins

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Revolut, the UK-based fintech company, is planning to offer stablecoin services through its future US bank, according to a Reuters report published Wednesday.

Revolut’s US CEO Cetin Duransoy told Reuters the bank is expected to launch next year. Customers will have access to FDIC-insured accounts, multi-currency deposits, stock trading, and cryptocurrency services.

Duransoy said the company plans to initially target retail and business customers with international banking needs, particularly those managing multiple currencies. Revolut will not open physical branches in the US but will give customers access to ATM networks.

The Charter Application

In March 2026, Revolut applied for a national bank charter with the Office of the Comptroller of the Currency. This replaced an earlier plan to acquire an existing US bank as part of its expansion.

The OCC application gives Revolut a path to offer federally insured banking products across the country under one regulatory framework. Duransoy joined the company that same month to lead its US growth strategy.

The move comes as US regulators have signaled a more open approach to crypto-related banking applications. There were at least 14 OCC de novo banking applications filed last year. This year, Nubank and Crypto.com received conditional approval to establish national banks.

Kraken became the first crypto-native firm to receive a master account with the Federal Reserve in March, giving it direct access to core US payment systems.

A Growing Stablecoin Market

The global stablecoin market has grown to approximately $319.5 billion, up from around $247 billion a year ago, according to DefiLlama data.

Revolut is already active in the stablecoin space outside the US. Its customers in other markets can use bank cards to make payments with USDT and USDC.

The company is not alone in making moves here. Several financial firms have recently launched stablecoin products of their own.

In December, digital bank SoFi launched SoFiUSD, a dollar-backed token usable on Ethereum and Solana. Last week, Falcon Finance introduced fUSD through Anchorage Digital’s issuance platform, backed by cash and short-term US government securities.

On Tuesday, MoneyGram introduced MGUSD in partnership with Bridge, Stripe’s stablecoin platform. The Stellar-based token is built into the MoneyGram app and supports dollar-denominated transfers.

Earlier in late 2025, Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos all received approvals from the OCC. Mastercard also recently expanded its support to include USDC, PYUSD, and RLUSD for settlement.

Revolut was founded in 2015 and now serves more than 75 million customers globally. The company received regulatory approval to launch a fully licensed bank in the United Kingdom earlier this year.

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