Revolut Targets US Banking Expansion with Stablecoin Offering

Revolut is preparing to expand its presence in the United States by offering stablecoin services alongside traditional banking products through a planned US bank launch next year.

The London-based fintech, which now has around one million customers in the US, has applied for a national banking charter and expects its new US operation to begin serving customers in 2027.

The bank will offer FDIC-insured products, including checking and high-yield investment accounts, while also providing access to stablecoins, cryptocurrency trading, and multi-currency deposits.

The proposed bank will be headquartered in Stamford, Connecticut, with an additional office in New York. Revolut does not intend to operate a branch network in the US, instead relying on digital channels and access to existing ATM infrastructure.

US chief executive Cetin Duransoy told Reuters the initial focus would be on retail and business customers with international banking requirements.

“We'll begin by focusing on business and retail customers that need multiple currencies, such as dollars, rupees, or Latin American currencies,” he said.

Revolut's platform currently supports more than 30 currencies, allowing customers to manage funds across multiple markets from a single account.

Rather than offering standalone crypto services, the bank plans to integrate stablecoins into a broader suite of regulated financial products, giving customers access to both traditional deposits and blockchain-based payment options through the same platform.

The firm reported revenue of £4.5 billion and net profit of £1.3 billion last year. The company remains privately held and has said it does not expect to pursue a public listing before 2028.