Revolut U.S. bank plans stablecoin offering as it prepares FDIC-insured accounts

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Revolut US stablecoin bank

Highlights

Revolut applied for a U.S. national bank charter in March, aiming to provide FDIC-insured multi-currency accounts, stock trading, and cryptocurrency services.
Revolut targets a $319.5 billion stablecoin market for U.S. clients, following a shift from acquiring a U.S. bank to building from scratch.
Competitors SoFi, Falcon Finance, and MoneyGram also launched stablecoins as fintechs accelerate efforts for federal banking approvals and stablecoin integrations in 2024 and 2025.

U.S. banking launch and product strategy

As first reported by Reuters, Revolut's U.S. CEO Cetin Duransoy said customers of the planned bank will be able to access FDIC-insured accounts, multi-currency deposits, stock trading and cryptocurrency services. He said the company initially targets retail and business clients that manage international banking activity and multiple currencies.

Revolut applied for a U.S. national bank charter in March, a step that would let it offer federally insured banking products nationwide under a single federal regulatory framework. The filing marks a shift from the company's earlier plan to acquire a U.S. bank as part of its expansion strategy, and Duransoy joined Revolut in the same month to lead its U.S. growth efforts.

The company is seeking a position in a stablecoin market valued at about $319.5 billion, up from roughly $247 billion a year earlier, according to DefiLlama data. Founded in 2015, Revolut says it serves more than 75 million customers globally across digital banking, payments, investing and cryptocurrency products, and outside the U.S. it already allows card payments using USDT and USDC stablecoins.

Stablecoin competition and regulatory momentum

Revolut's plan emerges as banks, fintech groups and payment providers deepen their use of dollar-backed digital tokens in payments and banking services. Recent launches include SoFiUSD in December, Falcon Finance's fUSD last week through Anchorage Digital's regulated issuance platform, and MoneyGram's MGUSD introduced Tuesday with Bridge, Stripe's stablecoin platform.

The broader activity also aligns with a push by fintech and digital asset firms to secure federal banking approvals in the United States. This year, Nubank and Crypto.com received conditional approval to establish national banks, while Circle, Ripple, BitGo, Fidelity Digital Assets and Paxos obtained similar approvals from the Office of the Comptroller of the Currency in late 2025.

Our earlier coverage of SoFi’s SoFiUSD stablecoin explained how the company launched a fully dollar-backed token through SoFi Bank, positioning it as a notable step in regulated stablecoin issuance in the U.S. We also reviewed SoFi’s Q1 2026 profitability and the stock’s mixed technical setup, with price action suggesting near-term consolidation despite ongoing product expansion.

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