The OCC preliminarily approved charter applications in September from European digital bank Revolut and blockchain-based bank OpenReserve to establish national banks in the U.S. Neither will have physical branches.
More new entrants are coming. Revolut is a $115 billion fintech with a 39-country reach. OpenReserve is backed by Andreessen Horowitz.
Sources:
https://www.occ.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/cd1390.pdf
https://www.occ.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/cd1389.pdf