Crypto-Friendly Revolut Finally Earns UK Banking License

Revolut received a banking license with restrictions from the Prudential Regulation Authority three years after applying.

The approval means it is en route to becoming a fully fledged U.K. bank that is also licensed to offer crypto services Revolut, one of the world's most valuable fintechs, finally won a banking license in its native U.K. more than three years after applying. The approval means it is on the path to becoming a fully fledged bank in the U.K. that is also licensed to offer crypto services. Revolut has allowed the buying and selling of crypto for several years and introduced, earlier this week Revolut announced plans to sell $500 million worth of employee-owned shares in a deal that would increase its value to $45 billion.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.

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