Revolut Won Conditional OCC Approval to Form a US National Bank
Finextra·medium signal
Revolut received conditional approval from the US Office of the Comptroller of the Currency to form a national bank, the regulatory step that lets it hold deposits directly rather than renting a partner bank's charter. Conditional approval still requires meeting OCC conditions before the charter is granted. It removes the sponsor-bank dependency that has capped every non-US neobank's American expansion.