Revolut Seeks US Banking License as Fintech Eyes Expansion (1)

Revolut Ltd. has applied for a US banking license and appointed a former Visa Inc. executive as chief for the region, as the London-based financial technology giant rolls out its ambitious plans to expand in the world’s biggest market.

The company, last valued at $75 billion in November, has sought the green light from both the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation to operate across all 50 states as Revolut Bank US, N.A., according to a statement on Thursday.

A US national bank charter will allow Revolut to directly access Federal Reserve payment ...