Mercury applies for US national bank charter to expand fintech capabilities #
Fintech firm Mercury has applied for a US national bank charter, a move that would allow the company to operate as a regulated bank and offer services directly without relying on partner institutions. If approved, the charter would place Mercury under federal oversight and enable it to take deposits, potentially lowering funding costs and giving it greater control over its product roadmap
The application reflects a broader trend among fintechs seeking bank charters to strengthen regulatory certainty and expand into core banking activities. For Mercury, which focuses on digital banking services for startups and technology companies, a national charter could support growth in lending, cash management, and other balance-sheet products while increasing credibility with larger corporate customers.