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Story summary
- Revolut, valued at $75 billion, seeks a U.S. national bank charter to operate in the United States, enabling insured deposits and its credit cards.
- The company has allocated $500 million for U.S. expansion and named Cetin Duransoy as its U.S. chief executive officer.
- Revolut gained UK banking license approval in 2024, but deposits remain limited to £50,000 due to regulatory concerns.
- The timeline to complete this expansion phase remains unclear.
