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If the company manages to get a charter in California, it would let the company operate throughout the U.S. as an independent bank and could therefore start offering more financial services. In particular, it would open up more opportunities when it comes to lending and savings products.
Revolut currently has 15 million customers for its financial super app — most of them are in the U.K. and the European Union. The company recently announced that it was applying for a banking license in the U.K., its home country and its biggest market. In Europe, Revolut has a specialized license from the Bank of Lithuania — some customers are already moving their account to Revolut Bank.
https://techcrunch.com/2021/03/22/revolut-applies-for-bank-charter-in-the-us/
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