Revolut plans US bank offering stablecoins and FDIC accounts
Revolut will offer stablecoins, FDIC‑insured deposits, multi‑currency holdings and stock trading at a planned US national bank expected to launch next year, US CEO Cetin Duransoy said.
Revolut plans to offer stablecoins alongside FDIC‑insured deposit accounts, multi‑currency holdings, stock trading and other cryptocurrency services at a US national bank it expects to open next year. The company filed for a national charter in March.
The bank will focus on retail and business customers with international banking needs and those who manage multiple currencies. Revolut appointed Cetin Duransoy to lead its US growth effort in March.
The national charter application replaces an earlier plan to expand in the United States by acquiring an existing bank. A federal charter would let Revolut offer insured banking products across all states under a single regulatory framework.
Market data put the stablecoin market at about $319.5 billion, up from roughly $247 billion a year earlier. Outside the United States, Revolut customers can already use company cards to make payments with the USDT and USDC stablecoins.
Several financial firms have recently issued dollar‑pegged tokens. Digital bank SoFi launched a dollar‑backed token for transactions on the Ethereum and Solana networks. Falcon Finance introduced fUSD, backed by cash, repurchase agreements and short‑term US government securities for institutional trading and treasury operations. MoneyGram released MGUSD on the Stellar network and integrated the token into its app for holding and transferring dollar balances.
Banks, payment providers and digital asset firms are also pursuing federal banking approvals. Nubank and Crypto.com received conditional approval to form national banks, and companies including Circle, Ripple, BitGo, Fidelity Digital Assets and Paxos secured approvals from federal regulators late last year.
Founded in 2015, Revolut offers digital banking, payments, investing and cryptocurrency products to more than 75 million customers worldwide. The planned US bank would expand the company’s ability to provide federally insured banking services and to offer tokenized dollar products within customer accounts.
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