News Explorer — UK Fintech Revolut Applies for US Banking License

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Mar 5, 1:08 pm

Coindesk

UK Fintech Revolut Applies for US Banking License

UK fintech company Revolut has applied for a U.S. banking license with the OCC to expand its services in the American financial system. If approved, this license would grant Revolut access to payment networks like Fedwire and ACH, potentially enabling the offering of lending products. The firm was one of four selected by the UK's Financial Conduct Authority for a stablecoin regulatory sandbox in February.

UK fintech company Revolut has applied for a U.S. banking license with the OCC to expand its services in the American financial system. If approved, this license would grant Revolut access to payment networks like Fedwire and ACH, potentially enabling the offering of lending products. The firm was one of four selected by the UK's Financial Conduct Authority for a stablecoin regulatory sandbox in February.

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