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Revolut wants to compete in the United States with JPMorgan Chase and American Express, CEO Nik Storonsky told Bloomberg, but that is an ambition—not evidence that Revolut currently matches either company. As of September 2026, its proposed U.S. national bank had conditional approval from the Office of the Comptroller of the Currency (OCC), with other approvals and final OCC approval still outstanding. Revolut described 2027 as its target launch year, subject to those steps.

What Storonsky said about competing in the U.S.

Bloomberg reported on October 9, 2026, that Revolut CEO Nik Storonsky aims to compete in the United States with JPMorgan Chase and American Express. He also said a U.S. primary listing had always been the goal, pointing to the depth of the U.S. market. These are reported strategic ambitions, not announcements that Revolut has matched those companies or scheduled a public offering. Bloomberg’s report also notes Storonsky had previously said Revolut would not pursue an IPO before at least 2028.

What a U.S. bank charter could change

Revolut’s U.S. ambitions depend in part on building out regulated banking operations. In March 2026, the company said it had applied to the OCC and Federal Deposit Insurance Corporation (FDIC) for a national bank charter. It said a charter could support nationwide operations under a federal framework, direct access to payment rails such as Fedwire and ACH, and the ability to offer personal loans, credit cards and insured deposits. Those were proposed capabilities, not confirmation that the products or access were already available through a Revolut national bank. Revolut’s charter application announcement describes the company’s stated rationale.

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Approval status and the proposed launch

On September 3, 2026, Revolut said the OCC had conditionally approved its proposed U.S. national bank. The company also said it still needed to work through FDIC and Federal Reserve applications or approvals, as well as obtain final OCC approval. It described 2027 as the proposed bank’s planned launch year. A conditional approval is an important step, but it is not a completed charter or a launched U.S. national bank. Revolut’s status announcement sets out the remaining steps.

How large is Revolut?

Revolut reported substantial global scale in its annual report for the year ended December 31, 2025. The figures below are company-reported and are not a like-for-like comparison with JPMorgan Chase or American Express; the cited material does not provide aligned figures for those companies.

Measure Revolut-reported 2025 figure
Retail customers 68.3 million
Transaction volume £1.3 trillion
Customer balances £50.2 billion
Profitability Fifth consecutive profitable year

These figures provide context for Revolut’s growth, but they do not establish equivalent U.S. reach, products, revenue, assets or market position. The source is Revolut Group Holdings Ltd’s 2025 annual report.

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Does JPMorgan already treat Revolut as a competitor?

JPMorganChase CEO Jamie Dimon named Revolut among a broad field of payments-company competitors during the company’s 2026 update, alongside firms such as Chime, PayPal, Stripe, Bilt and Ramp. That shows Revolut is part of the competitive conversation in payments; it is not an assessment that Revolut can already rival JPMorgan across banking or American Express across its business. The company’s 2026 update transcript contains Dimon’s comment.

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What the announcement does—and does not—mean

  • It means Revolut is pursuing a larger U.S. role. Storonsky’s comments name established financial companies as competitors, while the charter effort could enable a wider set of banking capabilities if approvals are completed.
  • It does not mean those capabilities are already operating through a U.S. national bank. The charter remained proposed, with approvals outstanding in Revolut’s September 2026 update.
  • It does not establish a scheduled IPO. Bloomberg reported a U.S. primary-listing preference and a prior statement that Revolut would not go public before at least 2028; neither is a transaction date.
  • It does not prove parity or future success. Company-reported global scale figures and a competitor mention are not equivalent, independently aligned measures of U.S. market position.

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