Revolut Applies for US Banking License, Accelerating Global Financial Services Expansion

Revolut has officially submitted a bank charter application to US regulators, marking a key step in its global expansion strategy. The company stated that this move aims to create the world's first truly comprehensive all-in-one bank. If the application is approved, Revolut will directly access core payment systems such as Fedwire and ACH, enabling it to launch credit cards, personal loans, and a wider range of deposit products in the US market. Previously, its US operations mainly relied on third-party partners, limiting the scope of services and the speed of product iteration, far short of its breadth and depth in the European market.

This application also reflects the ongoing convergence of fintech, traditional banking, and crypto services. Currently, many digital finance platforms offer cryptocurrency trading, stablecoin deposits and withdrawals, and on-chain transfers, typically through partnerships with exchanges like Coinbase. With a banking license, Revolut is expected to more firmly integrate these functions within a regulated framework, enhancing user trust while addressing regulators' concerns about the security of hybrid financial platforms. This move will not only enhance its product competitiveness but may also set a new standard for compliant innovation in the industry.