Crypto-Friendly Bank Revolut Applies for US Banking License, Aims to Build Global Digital Bank

BlockBeats News, March 5th, Crypto-friendly bank Revolut has submitted a US banking license application to the Office of the Comptroller of the Currency (OCC). If approved, the company will be able to operate in the US in a manner similar to traditional banks, with direct access to core payment networks such as Fedwire and the Automated Clearing House.

It is reported that this license will also allow Revolut to introduce more banking services, including credit cards and personal loans. Currently, Revolut provides account and payment services in the US through a partnership with Lead Bank, but does not hold its own banking license.

Revolut is currently valued at around $75 billion and has stated that the US market is a key region for its global expansion. If successfully licensed, this will be one of its most important regulatory milestones outside of Europe.