Revolut Files for US Bank Charter, Appoints Cetin Duransoy as CEO

2026-03-06 - 09:23

Revolut has applied to the US Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation for a national bank charter, which would operate as Revolut Bank US. Revolut is expanding into North America. The company has appointed Cetin Duransoy as US CEO, replacing Sid Jajodia, who will continue as Global Chief Banking Officer. Duransoy brings over 20 years of experience in technology, payments, and finance, having led Raisin as US CEO and held senior roles at Capital One and Visa. Revolut co-founder and CEO, Nik Storonsky, said: Nikolay Storonsky “The US 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.” A US national bank charter would allow Revolut to fully control the customer experience. It would let the company operate across all 50 states under a single federal framework. The charter would also give Revolut direct access to payment systems such as Fedwire and ACH. The charter would enable Revolut to offer insured deposits. It would also allow the company to provide personal loans and credit cards, creating new revenue opportunities through net interest margin. As of March 2026, Revolut operates in 40 markets, offering services including money transfers and currency exchange. Recent developments include launching banking operations in Mexico, obtaining a payments license in India, securing an in-principle license in the UAE, and opening a new global headquarters in London. In November 2025, a secondary share offering raised Revolut’s valuation to US$75 billion, making it one of the most valuable privately held tech companies. Featured image credit: Edited by Fintech News Switzerland, based on image by mrsiraphol via Freepik