Revolut has never had trouble with the consumer part of consumer finance. Its pitch—one app, many money jobs—travels well. FX, cards, subscriptions, crypto (where allowed), business accounts, travel perks: the “super-app” narrative works across borders.
What hasn’t traveled as easily is the part regulators care about most: the license that makes you a bank, with all the unglamorous obligations that come with it.
On March 5, Revolut filed for a U.S. national bank charter and FDIC deposit insurance, and named Cetin Duransoy (formerly Visa) as its U.S. CEO. Revolut says it plans to invest $500 million in the U.S.
