After a lengthy three-year application process with regulators, Revolut, a London-based fintech company, has finally obtained one in the UK.
This major achievement, announced on July 25, is a significant milestone for the company as it consolidates its position in its home market.
It should be noted the license involves some constraints, such as the gradual expansion of its banking operations prior to a full launch.
Subscribe to our Telegram channel to get weekly short digests about events that shape the crypto world
Revolut CEO Nik Storonsky has expressed his pride in reaching this milestone and stated the company will strive to make Revolut the bank of choice for UK customers.
Since its inception in 2015, the company has seen a rapid increase in its customer base, with nine million registered users in the UK and over 45 million worldwide.