{"id":16161,"date":"2024-07-29T21:30:11","date_gmt":"2024-07-30T01:30:11","guid":{"rendered":"https:\/\/sikaoer.com\/fintech-giant-revolut-authorized-to-become-a-uk-bank\/"},"modified":"2024-07-29T21:30:11","modified_gmt":"2024-07-30T01:30:11","slug":"fintech-giant-revolut-authorized-to-become-a-uk-bank","status":"publish","type":"post","link":"https:\/\/sikaoer.com\/fintech-giant-revolut-authorized-to-become-a-uk-bank\/","title":{"rendered":"Fintech giant Revolut authorized to become a UK Bank"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<h3>Key Takeaways<\/h3>\n<ul>\n<li>Revolut secures UK banking license with restrictions from PRA, set to offer loans and mortgages after the restricted period.<\/li>\n<li>By gaining broader mainstream appeal through its expanded banking services, Revolut could help introduce and onboard a significant number of new users to crypto.<\/li>\n<\/ul>\n<p>Share this article<\/p>\n<div class=\"follow-on-google-news\">\n<p>                        <\/p><\/div>\n<p>Revolut, the crypto-friendly fintech giant, said Thursday it secured a UK banking license with restrictions from the Prudential Regulation Authority (PRA), the regulator overseeing the UK banking sector.<\/p>\n<p>The license will allow Revolut to operate as an authorized bank, offering new services like loans and mortgages in its home market. However, since it\u2019s still in the \u201cmobilization stage,\u201d a period designed for new banks to complete the build-out of their banking operations, nothing changes for Revolut UK customers, the firm stated.<\/p>\n<blockquote wp_automatic_readability=\"9\">\n<p>\u201cUntil the mobilization stage is completed and the UK Bank is launched, Revolut\u2019s UK customers will remain with Revolut Ltd, a UK e-money institution regulated by the FCA,\u201d Revolut stated.<\/p>\n<\/blockquote>\n<p>Winning a UK banking license was on Storonsky\u2019s Christmas wish list for 2022. Several factors, such as concerns regarding accounting practices and past regulatory issues, caused the delay, but the firm\u2019s efforts have finally paid off.<\/p>\n<blockquote wp_automatic_readability=\"8\">\n<p>\u201cWe are incredibly proud to reach this important milestone in the journey of the company and we will ensure we deliver on making Revolut the bank of choice for UK customers,\u201d said the CEO of Revolut.<\/p>\n<\/blockquote>\n<p>With the license comes stricter regulations and the need to guarantee deposits up to \u00a385,000, according to The Guardian. On the bright side, approval by UK regulators might encourage other countries, like the US, to follow suit.<\/p>\n<div class=\"ad-banner mrec-in-article\">\n<div class=\"code-block code-block-4 ai-track\" data-ai=\"WzQsIiIsIk1SRUMgSW4tYXJ0aWNsZSAtIDMwMHgyNTAiLCIiLDFd\" style=\"margin: 8px 0; clear: both; width: 300px; height: 250px;\">\n<div class=\"ai-rotate ai-unprocessed\" data-shares=\"WzEwMF0=\" style=\"position: relative;\">\n<div class=\"ai-rotate-option\" style=\"visibility: hidden;\" data-index=\"1\" data-name=\"U0lNRVRSSQ==\">\n<p>  <img fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Sapphire\" width=\"300\" height=\"250\" data-lazy-src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2024\/03\/18060845\/600x500.jpg\"\/>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The new status is also expected to expand Revolut\u2019s user base, potentially onboarding a significant number of new users to crypto.<\/p>\n<p>Revolut is considered one of the top crypto-friendly banks globally, offering features like multi-currency support, an integrated secure crypto exchange, and crypto-related financial services<\/p>\n<p>The granting of the UK banking license is a major milestone for Revolut, as it allows the company to expand its offerings and solidify its position as a leading player in the fintech and crypto space in the country.<\/p>\n<blockquote wp_automatic_readability=\"10\">\n<p>\u201cToday\u2019s announcement is a significant step forward for Revolut and for our customers. It is a tremendous responsibility to be a bank in the UK and we will work relentlessly to offer products and services that improve the financial lives of everyone who uses Revolut,\u201d said Francesca Carlesi, UK CEO of Revolut. \u201cThis is the next phase in Revolut\u2019s journey in the UK \u2013 we can\u2019t wait to get going.\u201d<\/p>\n<\/blockquote>\n<p>Share this article<\/p>\n<div class=\"follow-on-google-news\">\n<p>                        <img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Follow Crypto Briefing on Google News\" width=\"140\" height=\"41\" data-lazy-src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2024\/04\/05153217\/follow-us-on-google-news.png\"\/><\/p><\/div><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/revolute-becomes-uk-bank\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Revolut secures UK banking license with restrictions from PRA, set to offer loans and mortgages after the restricted period. By gaining broader mainstream appeal through its expanded banking services, Revolut could help introduce and onboard a significant number of new users to crypto. Share this article Revolut, the crypto-friendly fintech giant, said Thursday [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-16161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fintech giant Revolut authorized to become a UK Bank - Sikaoer - The Best Crypto News Site.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sikaoer.com\/fintech-giant-revolut-authorized-to-become-a-uk-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fintech giant Revolut authorized to become a UK Bank\" \/>\n<meta property=\"og:description\" content=\"Key Takeaways Revolut secures UK banking license with restrictions from PRA, set to offer loans and mortgages after the restricted period. 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