Stablecoin

Value

London-based fintech company Revolut has announced that it has received a banking license from UK financial regulators.
<h2 id="revolut-receives-banking-license-from-uk-financial-regulator">Revolut Receives Banking License from UK Financial Regulator</h2>
This preliminary approval from the UK Prudential Regulation Authority (PRA) marks the culmination of a rigorous three-year application process for the crypto-friendly firm.
Revolut CEO Nik Storonsky expressed his pride in reaching this important milestone, saying:
“We are incredibly proud to have reached this important milestone in the company's journey and will ensure that Revolut becomes the bank of choice for UK customers.”
The banking license obtained from the PRA comes with certain restrictions, as Revolut enters the “mobilization” phase before receiving a full licence. During this period, the bank will face several limits, including a £50,000 ($64,000) limit on total customer deposits.
Related News: <a href="https://en.bitcoinsistemi.com/stablecoin-market-value-rising-after-months-of-recession-what-does-this-herald-here-are-the-details/" target="_blank" rel="noopener noreferrer nofollow">Stablecoin Market Value Rising After Months of Recession! What does this herald? Here are the Details</a>
Revolut informed its UK-based customers about this development today, saying: “We are currently entering a period of 'mobilisation', a common regulatory phase for many new banks.
During this time, we will complete the setup of our banking processes before we start operating as a bank in the UK.” Once fully operational, Revolut plans to expand its offerings to include products such as mortgages and credit cards in addition to its existing e-money services.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/cryptocurrency-friendly-finance-company-obtained-banking-license-in-the-uk-here-are-the-details/" rel="noopener noreferrer nofollow">Cryptocurrency-Friendly Finance Company Obtained Banking License in the UK! Here are the Details</a>

Cryptocurrency-Friendly Finance Company Obtained Banking License in the UK! Here are the Details

Daftar Isi

Bitcoin Sistemi EN

Artikel lain yang dipublikasikan pada 25 Jul 2024

VanEck Predicts Bitcoin Price Could Hit $52.38 Million, Here’s When

Unveiling the Best Altcoins to Buy in 2024: How Strategic Innovations Are Captivating Investors

US GDP Weighs On Federal Reserve’s September Rate Cut Bets, What’s Next?

HSBC Australia Blocks Payments to Cryptocurrency Exchanges

Altcoin Adoption Trends: Litecoin, Dogecoin Lead the Pack, Chainlink Lags

ETH ETFs Reach Nearly $1 Billion in Trading Volume in Two Days

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!