Revolut Applies for U.S. Bank License to Expand into Credit and Payment Business

Odaily News: Crypto-friendly bank Revolut has submitted an application for a U.S. bank charter to the Office of the Comptroller of the Currency (OCC). If approved, the company will be able to operate in the U.S. in a manner similar to traditional banks and gain direct access to core payment networks such as Fedwire and the Automated Clearing House.

It is reported that this license will also enable Revolut to launch more banking services, including credit cards and personal loans. Currently, Revolut provides account and payment services in the U.S. through a partnership with Lead Bank but does not hold a banking charter itself. (Coindesk)