The firm, which currently serves one million American users among its 75 million global clients, intends to prioritize customers with cross-border financial needs. By leveraging its infrastructure, the bank will offer access to stablecoins, multi-currency deposits, and trading capabilities for stocks and cryptocurrencies. Despite the expansion into banking, the company will maintain a branchless model, relying instead on existing ATM networks to serve its retail and business clientele.

Revolut is building this domestic presence from a position of financial strength. The company reported 4.5 billion pounds in revenue and 1.3 billion pounds in net profit for the previous year. While the firm remains private and carries a valuation of $75 billion, CEO Nik Storonsky has signaled that a public listing remains off the table until at least 2028. The U.S. national bank charter application, filed in March, serves as the cornerstone of this effort to capture market share from users already accustomed to the app’s international capabilities.