Mercury Receives Conditional OCC Approval to Become a National Bank

PYMNTS·high signal

Mercury, the startup banking platform serving 300K+ businesses with $650M in annualized revenue and four years of GAAP profitability, received conditional approval from the OCC to establish Mercury Bank, N.A. Upon final authorization from FDIC and the Federal Reserve, Mercury will offer Zelle, expanded lending products, and deeper payments infrastructure. The charter would make Mercury one of the few fintechs to complete the full bank transition.