Revolut Files Second U.S. Bank Charter Application, Appoints New U.S. CEO

By Matt Brienen

Published: 2026-03-05T16:58:39+00:00

### **Revolut Makes Second Attempt at a U.S. Bank Charter**

Fintech company Revolut has filed a new application for a **U.S. national bank charter**, marking its second attempt to secure a banking license in the United States. The London-based firm submitted the application to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation to establish a new entity called “Revolut Bank US, N.A.”

The move represents a major step in Revolut’s strategy to expand its presence in the American financial market and build what the company describes as a truly global banking platform. If approved, the charter would allow Revolut to operate nationwide under a federal banking framework rather than relying on partner banks to provide core financial services.

### **New U.S. CEO Appointed to Lead Expansion**

Alongside the charter application, Revolut announced the appointment of **Cetin Duransoy** as its new U.S. chief executive. Duransoy replaces Sid Jajodia, who will move into a global chief banking officer role within the company.

Duransoy brings more than two decades of experience across fintech, banking and payments. He previously held leadership roles at major financial institutions and fintech platforms, including senior positions in payments networks and digital banking companies.

His appointment signals a renewed focus on building Revolut’s U.S. operations and navigating the regulatory landscape required to launch a fully licensed bank.

### **Strategic Push Into the U.S. Market**

Revolut currently serves tens of millions of customers across dozens of countries, but its footprint in the United States remains relatively small compared to its presence in Europe.

Obtaining a U.S. banking license would allow the company to significantly expand its offerings in the region. Planned services include traditional banking products such as insured deposits, credit cards, lending products and payment services, which could be integrated directly into the Revolut app ecosystem.

The fintech company is also planning to invest heavily in the U.S. over the coming years, including hiring talent, expanding its product suite and building out the infrastructure required to support a fully regulated bank.

### **Why the Charter Matters**

A national bank charter would give Revolut several advantages. It would allow the company to operate under a single federal regulatory framework across all fifty states, gain more direct access to core payment systems, and control the full customer experience without relying on intermediary banking partners.

For fintech companies, obtaining a bank charter can be transformative because it enables them to provide a wider range of financial products while improving operational efficiency and margins.

### **Part of a Broader Fintech Expansion Trend**

Revolut’s renewed push for a U.S. banking license reflects a broader trend of global fintech firms attempting to deepen their integration within traditional financial systems.

The U.S. banking market has historically been difficult for challenger banks to penetrate, with several international fintech companies previously struggling to obtain regulatory approval or build sustainable operations.

Revolut’s second attempt highlights both the size of the opportunity in the U.S. market and the increasing competition between traditional banks and fintech platforms aiming to reshape digital financial services.