Revolut is planning a US bank that would offer stablecoins alongside FDIC-insured accounts, blending crypto and traditional banking for both retail and business customers. The move positions the London-based fintech to compete directly with US banks and crypto-native firms by offering a single platform for fiat and digital-asset services.
What Revolut is building
The planned US bank would let customers hold both dollars protected by federal deposit insurance and stablecoins — likely Revolut's own token or a widely used third-party stablecoin. The exact stablecoin hasn't been disclosed, but the model mirrors what some digital-asset banks and neobanks already do: one login for checking, savings, and crypto.
Revolut already offers crypto trading in Europe and other markets. A US bank charter would let it hold deposits, lend, and issue stablecoins under federal oversight, something few fintechs have pulled off at scale.
Why the hybrid matters
Stablecoins have mostly lived outside the traditional banking system — issued by crypto firms like Circle or Tether, held in crypto wallets, not tied to a bank account. Revolut's plan collapses that distance: a user could earn interest on cash savings, then swap into stablecoins in the same app without moving money to a separate exchange.
That convenience cuts both ways. Regulators have been wary of stablecoin issuers that don't hold regulated, segregated reserves. A bank-owned stablecoin would face tougher oversight — but also clearer rules. Revolut is betting that a licensed US bank with FDIC backing will calm the fears that have kept many consumers away from crypto.
The regulatory road ahead
Revolut has applied for a US bank charter but hasn't received final approval. The timeline is uncertain. The Office of the Comptroller of the Currency and the Federal Reserve would need to sign off, and state-level approvals may be required depending on the charter type.
If approved, Revolut would join a small group of fintechs and crypto firms that have secured bank charters. The difference is scale: Revolut has more than 45 million customers globally, giving it a ready user base if the US bank launches.
Revolut hasn't set a launch date for the US bank. The company is still in talks with regulators and has not formally announced the stablecoin partner or token it will use. The next concrete milestone will be either a charter approval or a public test of the stablecoin product with a limited set of customers.
