Revolut Appoints US CEO Amid Banking Push

Revolut has intensified its expansion into the United States by applying for a national banking licence and appointing a new regional chief executive, signalling a stronger executive focus on one of the world’s most competitive financial markets.

The London-based fintech has submitted applications to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation to establish a regulated entity, Revolut Bank US, N.A., which would allow the company to operate across all 50 states if approved.

Alongside the licence application, Revolut has appointed Cetin Duransoy, a former Visa executive and previously chief executive of Raisin’s US business, as head of its American operations. The leadership change comes as the company accelerates plans to scale its presence in the country.

The banking licence would enable Revolut to broaden its range of financial services in the United States, including insured deposits, lending, credit cards and payment services, while reducing its reliance on partner banks that currently support its operations in the market.

Revolut already operates globally with more than 70 million customers across roughly 40 markets and views the United States as a central pillar of its long-term growth strategy. Company executives have said the expansion is part of an ambition to reach 100 million users worldwide in the coming years.

To support the push, the company plans to invest about $500 million in the US over the next three to five years, covering bank capitalisation, hiring and marketing. Revolut also intends to promote its brand through partnerships and sponsorships similar to campaigns it has used in Europe and other markets.

The move marks the latest stage in the fintech group’s international expansion strategy. Revolut recently launched licensed banking operations in Mexico and has pursued regulatory approvals in several markets as it seeks to compete more directly with traditional banks and digital rivals.

The US application now places the company within a rigorous regulatory review process, with approval likely to determine how quickly Revolut can transition from a payments platform into a fully licensed digital bank in the American market.