Revolut Gets Approval To Offer Crypto Services in the UK


Revolut has received regulatory approval to offer crypto services in the United Kingdom, according to the Financial Services Register in the UK. The crypto trading app has waited since before March 2022 for its temporary registration to become permanent.

Revolut is currently worth approximately $33 billion USD. The firm has around 20 million customers worldwide and offers about 80 crypto assets to trade. Previously, Revolut had permission to remain in use in the UK under the FCA’s temporary registration regime. This regime allows for firms to continue to operate while their applications are under review.

In an email with Coindesk, an FCA official confirms the approval of the platform across the UK. “Revolut has agreed to a number of directions designed to ensure it has the systems and controls to meet the requirements of the money-laundering regulations,” the FCA official says in the email. In addition, “Revolut has agreed to a number of directions designed to ensure it has the systems and controls to meet the requirements of the money-laundering regulations.”

Revolut

Revolut recently received the green light to offer crypto services in Cyprus. The service continues to grow across Europe, and the UK is the next big target achieved for it. Revolut has yet to comment on the latest achievement.