REVOLUT RECEIVED A BANKING LICENSE IN THE EU

The British startup Revolut has announced about obtaining a license from the European Central Bank (ECB) and announced plans to use the banking license in key markets, including the UK, France, Germany and Poland.

For a startup, this is a great success, as it is the first banking license they have received. All related processes will take another 3 to 6 months, but the founder and head of the project noted that this is only the beginning, and soon this license will become “one of many”, but primarily the company is interested in obtaining a license from the British regulators, due to the uncertainty of the country’s exit from the EU.

In August, Revolut announced the launch of Revolut Metal debit cards that support crypto-transactions and allow you to get cashback for purchases in cryptocurrency. Earlier, Revolut and Bitstamp jointly launched a mobile application that allows customers to exchange and convert 5 cryptocurrencies. In total, the company has about 3 million customers, and according to representatives of Revolut, from 8000 to 10,000 accounts are opened every day.

The head of Revolut noted that the company now aims to win the trust of 100 million users as “the best digital Bank in the world”. The company also plans to expand to the USA, Canada, Singapore, Japan, Australia and New Zealand in 2019.