Revolut is Now a Fully Registered Crypto Service Provider in the UK
by Fintechnews Switzerland September 28, 2022Digital money app Revolut has been approved by the United Kingdom’s Financial Conduct Authority (FCA) to offer cryptocurrency products and services in the country.
The company was previously providing crypto buying, selling and trading services under the the FCA’s temporary registration regime which allows service providers to continue operating while their applications were being reviewed.
CoinDesk received confirmation from an FCA spokesperson that Revolut has indeed been added to its financial services registry of cryptoasset firms as it has met the requirements of money-laundering regulations.
38 cryptoasset firms are currently registered with the FCA, including Gemini, Fidelity and eToro.
Founded in 2015, Revolut had 20 million retail customers, 250 million transactions each month, and 5,000 employes globally as of July 2022.
The company previously announced that it will utilise Stripe’s payments infrastructure to expand in the UK and Europe.
