RATE Group | Bitcoin-Friendly Revolut Receives European Banking License
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Bitcoin-Friendly Revolut Receives European Banking License

13 Dec Bitcoin-Friendly Revolut Receives European Banking License

Posted at 15:56h in Bitcoin News by

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revolut app bitcoin cryptocurrency crypto exchange

Revolut, a digital banking alternative that features an in-app bitcoin and cryptocurrency exchange, has received a European banking license as it seeks to expand its offerings and position itself as the “Amazon of banking.”

Revolut to Offer Bank Accounts in Europe

The London-based unicorn, which remains one of the hottest fintech startups in the United Kingdom, announced on Thursday that it had received permission to begin offering European customers traditional banking services alongside its current suite of products.

Initially, Revolut customers in eligible jurisdictions will have the ability to sign up for direct deposit and receive deposit insurance on up to €100,000 through the European Deposit Insurance Scheme. Later, the firm will roll out overdraft protection, as well as traditional personal and business loans.

Commenting on the development, Nikolay Storonsky, founder and CEO of Revolut, said:

“With the banking licence now secured, commission-free stock…

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