• Revolut secures UK banking license with restrictions, entering the ‘mobilization’ stage for new banks.
• No immediate changes for UK customers as Revolut prepares infrastructure for full banking services.
• CEO Nik Storonsky and UK CEO Francesca Carlesi express pride and commitment to enhancing Revolut’s offerings.

After years of anticipation, Revolut has secured a UK banking license, marking a significant milestone for the fintech firm.

The license issued by Prudential Regulation Authority (PRA) comes with certain riders, placing Revolut in a “mobilization” phase, also known as ‘Authorisation with Restrictions, which is a standard procedure for new banks in the UK. For Revolut, this means no immediate changes for its UK customers, who can continue using their e-money accounts without interruption.

Landing this UK banking license is a major coup for Revolut, especially considering they have been chasing it since 2021.  The UK is their biggest market, with 9 million customers out of their 45 million worldwide.

While Revolut has had an EU banking license since 2018, getting one in the UK has been trickier.  That’s been holding them back from expanding their c…

The post Revolut Secures UK Banking License, Begins Mobilization Phase appeared first on Coin Edition.

• Revolut secures UK banking license with restrictions, entering the ‘mobilization’ stage for new banks.
• No immediate changes for UK customers as Revolut prepares infrastructure for full banking services.
• CEO Nik Storonsky and UK CEO Francesca Carlesi express pride and commitment to enhancing Revolut’s offerings.

After years of anticipation, Revolut has secured a UK banking license, marking a significant milestone for the fintech firm.

The license issued by Prudential Regulation Authority (PRA) comes with certain riders, placing Revolut in a “mobilization” phase, also known as ‘Authorisation with Restrictions, which is a standard procedure for new banks in the UK. For Revolut, this means no immediate changes for its UK customers, who can continue using their e-money accounts without interruption.

Landing this UK banking license is a major coup for Revolut, especially considering they have been chasing it since 2021.  The UK is their biggest market, with 9 million customers out of their 45 million worldwide.

While Revolut has had an EU banking license since 2018, getting one in the UK has been trickier.  That’s been holding them back from expanding their c…

The post Revolut Secures UK Banking License, Begins Mobilization Phase appeared first on Coin Edition.