Revolut Targets 2027 Launch of U.S. Bank With Stablecoins Built Into the Core App

Revolut is aiming to launch a U.S. bank in 2027, combining FDIC-insured accounts and stablecoin functionality within the same app, according to a Wednesday Reuters interview with U.S. CEO Cetin Duransoy. The British neobank has about 70 million customers worldwide and was valued at $75 billion in a November 2025 secondary share sale. The planned entity, to be named Revolut Bank US, N.A., would be headquartered in Stamford, Connecticut, with a second office in New York. Duransoy said the product lineup would include FDIC-insured checking and high-yield investment accounts, multicurrency deposits, stock and crypto trading, and stablecoin access delivered through a single platform. Revolut filed for a national bank charter with the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) on March 5, committing $500 million in U.S. investment to support the application. The move is notable because Revolut is positioning stablecoins as an integrated launch feature rather than an add-on. A comparable U.S. precedent is SoFi Technologies, currently the only U.S. national bank offering a proprietary stablecoin. SoFi received its charter in January 2022 but did not introduce SoFiUSD to retail customers inside its banking app until May 27 of this year. Revolut's plan would bring that kind of integration from day one in 2027. Charter route and regulatory reach Revolut's application seeks a federal charter that would allow uniform operations across all 50 states under a single regulator, replacing an earlier approach that included the possibility of acquiring an existing U.S. lender. The filing follows comments made about six months earlier by then-U.S. head Sid Jajodia to Banking Dive, where he said a charter would give Revolut "a seat at the table with the regulator." Jajodia is now Revolut's global chief banking officer, and Duransoy took over the U.S. role in January. At the time of the filing, Revolut co-founder and CEO Nik Storonsky said: "Filing for a national bank charter is a major milestone toward our vision of building the world's first truly global banking platform." If approved, a charter would provide direct access to Federal Reserve payment rails such as Fedwire and ACH. It would also allow Revolut to offer FDIC-insured deposits without partner banks and to originate personal loans and credit cards directly. OCC charter decisions typically take 12 to 18 months. Revolut's application arrives amid rising new-bank activity. The OCC received 18 de novo applications in 2025 and additional filings in 2026. Crypto-native firms including Ripple, Paxos and Circle have also applied. Crypto.com secured a conditional national trust bank charter earlier this year, while Erebor Bank is already operating with a full charter. What "stablecoin services" could look like Duransoy did not specify which stablecoins Revolut would support, whether the bank would issue a Revolut-branded coin, or how custody would be structured. So far, the company has described the offering as "access" to stablecoins alongside FDIC-insured deposits, rather than a Revolut-issued dollar token. Revolut already enables zero-fee USDC and USDT swaps for European users and surpassed $1.2 billion in on-chain stablecoin volume on Polygon in 2025. Based on those existing capabilities, third-party stablecoin distribution appears the more likely starting point. Still, a bank-issued model has a clear U.S. example. SoFi's SoFiUSD launched on Ethereum and Solana on May 27, is redeemable 1:1 for dollars, and is available inside the consumer app for SoFi's 14.7 million members. Cash App, which does not hold a U.S. bank charter, supports USDC across Ethereum, Solana, Polygon and Arbitrum. Chime remains a nonbank fintech partner model and does not offer a stablecoin product. Revolut's rollout would also be shaped by a regulatory framework that was not in place when SoFi received its charter. The Guiding and Establishing National Innovation for U.S. Stablecoins Act, enacted July 18, 2025, created a federal pathway for U.S. banks to issue payment stablecoins under their existing regulators. The OCC's implementing rulemaking was published in the Federal Register on March 2, proposing requirements for national bank stablecoin issuance and custody. The comment period closed May 1. Distribution as the key lever In stablecoins, distribution matters. The combined circulating supply of the five largest dollar stablecoins is roughly $281 billion, including $187.5 billion for Tether and $76 billion for Circle's USDC. Revolut reports about 1 million U.S. customers and 70 million globally. Storonsky has set a goal of reaching 100 million customers by mid-2027. If Revolut were to route cross-border transfers through stablecoin rails by default, it could become a distribution channel orders of magnitude larger than most crypto-native platforms. Duransoy told Reuters the initial focus will be cross-border needs: "We'll begin by focusing on business and retail customers that need multiple currencies, such as dollars, rupees or Latin American currencies." Revolut does not plan to operate physical branches, and customers would rely on ATM networks. The app currently supports more than 30 currencies. What remains uncertain Neither the OCC nor the FDIC has indicated a decision timeline. Charter approvals can come with conditions that influence a launch product, including capital requirements, limits on activities, or restrictions on certain digital-asset offerings. No such conditions have been disclosed. Revolut's 2027 timeline remains a company target rather than a regulatory commitment. The firm's most recent financing was the November 2025 secondary share sale that valued it at $75 billion, up from $45 billion fifteen months earlier. Revolut has ruled out an IPO before 2028, with Storonsky indicating a U.S. listing would be the preferred venue when it does go public.