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Revolut Shifts Strategy to Pursue National Banking Charter in U.S.
Revolut Shifts Strategy to Pursue National Banking Charter in U.S.
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BTCCSquare news:
Revolut abandons acquisition plans for a U.S. lender, opting instead to secure a de novo national banking charter. The fintech firm cites regulatory hurdles—including branch-maintenance requirements and ownership approvals—as key reasons for the strategic pivot. Its application will now proceed directly through the Office of the Comptroller of the Currency (OCC).
The OCC’s streamlined licensing framework aligns with Revolut’s revised approach. Recent conditional approvals for digital asset firms like BitGo, Circle, and Paxos signal regulatory openness to innovative models. Revolut emphasizes the U.S. as a critical growth market, though operational specifics remain under review.
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