Revolut Secures UK Banking License for Deposit and Lending Services
- Revolut has received approval from the Prudential Regulation Authority to operate as a fully licensed bank in the UK.
- The license allows Revolut Bank UK Ltd to offer deposit accounts, with protections under the Financial Services Compensation Scheme.
- Revolut plans to roll out current accounts to new customers, starting with a small group before expanding.
- The company serves over 13 million customers in the UK and plans a £3 billion investment to create 1,000 high-skilled jobs.
- Revolut aims to expand its product range, including credit services, as part of its broader strategy to enter 30 new markets by 2030.
Revolut’s approval as a fully licensed bank in the UK marks a significant step in its expansion strategy, enabling it to offer protected deposit accounts and future lending products. The company is set on investing £3 billion and creating 1,000 jobs as it continues growing its customer base of over 13 million users.
Source (3.2)https://cryptobriefing.com/revolut-uk-bank-launch/?rand=59535
