Key Points
- Revolut is developing a US banking platform that will combine FDIC-protected deposits with stablecoin functionality and equity trading
- In March 2026, the fintech submitted an application for a national banking charter through the OCC, abandoning previous acquisition strategies
- US CEO Cetin Duransoy outlined plans to serve retail and commercial clients requiring cross-border financial solutions
- The overall stablecoin sector has expanded to approximately $319.5 billion from $247 billion over the past twelve months
- Multiple financial institutions including MoneyGram, SoFi, and Falcon Finance have introduced proprietary stablecoins recently
The British fintech firm Revolut intends to integrate stablecoin capabilities into its forthcoming American banking operation, based on a Wednesday Reuters article.
Cetin Duransoy, who heads Revolut’s American division, informed Reuters that the banking service should become operational within the next year. The platform will provide users with federally insured deposit accounts, support for various currencies, securities trading, and digital asset services.
According to Duransoy, the initial focus will be on individual consumers and enterprises requiring international financial management, especially those handling transactions across different currencies. Rather than establishing brick-and-mortar locations, Revolut will provide American customers with automated teller machine network connectivity.
Banking Charter Submission
During March 2026, Revolut filed paperwork with the Office of the Comptroller of the Currency seeking a national banking charter. This strategic pivot abandoned the company’s previous intention to purchase an established American financial institution.
The OCC filing creates an avenue for Revolut to deliver federally guaranteed banking services nationwide through a unified regulatory structure. Duransoy came aboard during the same timeframe to oversee the company’s American expansion efforts.
This development arrives as American financial regulators demonstrate greater receptiveness toward cryptocurrency-focused banking proposals. During the previous year, the OCC processed no fewer than 14 de novo charter applications. More recently, both Nubank and Crypto.com obtained provisional authorization to operate national banks.
Kraken achieved a significant milestone in March by becoming the first cryptocurrency-focused company granted a master account with the Federal Reserve, enabling direct participation in fundamental US payment infrastructure.
Stablecoin Sector Expansion
Worldwide stablecoin market capitalization has reached roughly $319.5 billion, representing substantial growth from the $247 billion recorded twelve months earlier, per DefiLlama statistics.
Revolut maintains existing stablecoin operations beyond American borders. International customers already utilize the platform’s debit cards for transactions involving USDT and USDC.
The fintech isn’t operating in isolation within this market segment. Numerous financial organizations have unveiled their own stablecoin offerings in recent months.
During December, digital banking provider SoFi debuted SoFiUSD, a dollar-pegged token functioning on both Ethereum and Solana networks. Last week saw Falcon Finance roll out fUSD via Anchorage Digital’s issuance infrastructure, with reserves consisting of cash holdings and short-duration US treasury instruments.
Tuesday brought MoneyGram’s announcement of MGUSD, developed collaboratively with Bridge, which operates under Stripe ownership. This Stellar blockchain token integrates directly into MoneyGram’s mobile application for dollar-denominated money movement.
Late in 2025, the OCC granted regulatory approvals to Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos. Mastercard has similarly broadened its infrastructure to accommodate USDC, PYUSD, and RLUSD for transaction settlement purposes.
Revolut began operations in 2015 and currently maintains a customer base exceeding 75 million people across international markets. The organization secured regulatory clearance to operate as a fully authorized bank within the United Kingdom earlier this year.
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