Revolut Files U.S. Bank Charter Application, Names New U.S. CEO
Banking charter and executive hire accelerates Revolut’s expansion in U.S. and continues North America push
Melbourne, Australia, 6 March 2026 – Revolut, the global financial technology leader serving more than 70 million customers worldwide, today announced that it has applied to the U.S. Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation for a U.S. national bank charter [to be called Revolut Bank US, N.A.]. This filing marks a major milestone in Revolut’s strategic expansion into North America and reinforces its mission to become the world’s first truly global banking platform.
Additionally, Revolut has announced that Cetin Duransoy has been appointed as U.S. CEO. Duransoy succeeds Sid Jajodia who remains at the company as Global Chief Banking Officer.
Revolut Co Founder and CEO, Nik Storonsky said: “The United States is a key pillar of our global growth strategy. Filing for a national bank charter is a major milestone toward our vision of building the world’s first truly global banking platform. This charter will give us the direct control needed to innovate faster and deliver the Revolut experience to millions more Americans as we move toward our goal of 100 million customers.”
The U.S. national bank charter will provide Revolut with several strategic advantages:
Full ownership of the customer experience: Allows Revolut to build better products faster and provide additional value directly to customers.
Nationwide reach under one regulatory framework: Revolut will be able to operate seamlessly across all 50 states under federal regulatory oversight.
Direct access to payment rails: Allows Revolut to connect directly to systems like Fedwire and ACH, which will improve speed, reliability, and cost efficiency.
Full-scale lending and new revenue streams: Enables Revolut to directly offer personal loans and credit cards, unlocking net interest margin (NIM) and access to core banking revenues.
FDIC Insurance: Enables Revolut to directly offer insured deposits to customers in the U.S.
Duransoy brings over two decades of tech, payments, and finance industry experience to the U.S. CEO post. He most recently served as the U.S. CEO of Raisin, a leading fintech marketplace. In this role he scaled Raisin’s platform to 90+ bank and credit union partners. Prior to his CEO role at Raisin, Duransoy held senior leadership banking and payments roles at Capital One and VISA.
As of March 2026 Revolut operates in 40 markets globally, offering a range of payment services including money transfers and currency exchange across borders between Revolut users, among other services. Securing a U.S. bank license soon after scaling our operations in Mexico, would mark significant progress on Revolut's goal to expand into 30 new markets by 2030 and reach 100 million customers by mid 2027. Recent milestones include launching banking operations in Mexico, securing a payments license in India, securing an in-principle payments license in the UAE, and the opening of Revolut’s new Global HQ in London.
In November 2025, Revolut completed a secondary share offering, raising the company’s valuation to $75 billion, establishing it as one of the most valuable private tech companies.
About Revolut
Revolut is a global fintech, helping people get more from their money. In 2015, Revolut launched in the UK offering money transfer and exchange. Today, more than 70 million customers around the world and over 1 million Australians use dozens of Revolut’s innovative products to make more than a billion transactions a month. Across our personal and business accounts, we give customers more control over their finances and connect people seamlessly across the world.
