The major fintech company has received conditional approval from the American financial regulator. The well-known organization Revolut plans to launch a national bank in the US. The application for a special banking license was submitted in March. The launch of the new American bank is scheduled for the next calendar year. This decision marked a very important milestone for the entire company. The regulator's approval is not yet a final official permission. The company must complete important procedures with other federal agencies. The final authorization must be issued by the major federal financial American authorities.
The new bank will offer American customers a very wide range of services. Users will gain direct access to loans and special cards. Customer deposits will be reliably insured by a large federal special fund. Multi-currency accounts and stablecoins will also become fully available to users. Founder Nikolay Storonsky called this a very important first step. The new status provides a solid foundation for growth in the market. The company will be able to offer a full experience to millions of ordinary American customers. Head of the American division Cetin Duransoy thanked local financial regulators. He confidently confirmed the plans to launch the new American bank.
The company already successfully serves more than eighty million global customers. Management plans to grow the base to one hundred million active users. The American bank will become part of the company's broad global financial strategy. The company has obtained banking licenses in France and distant Australia. British and UAE regulators have also issued the necessary official permits. Independent analyst Max Karpis highly praised this achievement. The company has passed an important milestone that well-known competitors have failed to reach. This situation is reminiscent of the successful experience of the major regional bank Nubank.
Digital assets are a very important component of the future American bank. Management plans to offer customers trading in various crypto assets completely freely. The company recently introduced its first euro-denominated stablecoin EURR to its customers. This asset fully complies with the strict requirements of the European MiCA regulation. The issuer of the new stablecoin became a major subsidiary of Stripe. The expansion of infrastructure is happening in parallel with active preparations for an exchange listing. Nikolay Storonsky plans to go public after 2028. Prior to that, a secondary sale of shares held by early major investors will take place. The company's overall valuation could reach one hundred and fifteen billion dollars.