Coin

<ul class="news-points">
 <li>Revolut secures UK banking license with restrictions, entering the ‘mobilization’ stage for new banks.</li>
 <li>No immediate changes for UK customers as Revolut prepares infrastructure for full banking services.</li>
 <li>CEO Nik Storonsky and UK CEO Francesca Carlesi express pride and commitment to enhancing Revolut’s offerings.</li>
</ul>
After years of anticipation, Revolut has <a href="https://www.revolut.com/news/revolut_receives_uk_banking_licence/" target="_blank" rel="noopener noreferrer nofollow">secured a UK banking license</a>, 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 <a href="https://coinedition.com/crypto-firms-seek-alternative-banking-amid-regulatory-scrutiny/" rel="noopener noreferrer nofollow">been chasing it since 2021</a>.&nbsp; 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.&nbsp; That’s been holding them back from expanding their c…
The post <a href="https://coinedition.com/revolut-secures-uk-banking-license-begins-mobilization-phase/" rel="noopener noreferrer nofollow">Revolut Secures UK Banking License, Begins Mobilization Phase</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Revolut Secures UK Banking License, Begins Mobilization Phase

Coin Edition

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