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Revolut has secured a European banking license from regulators in Lithuania, allowing the pre-paid card provider to start offering current accounts and loans across the EU from early next year. They also announced that revenues had increased fivefold in 2018 to more than £60m.
However, its plans to offer full banking services in its home market could be delayed in the event of a disorderly Brexit if financial firms lose the right to serve retail customers on licences granted in the rest of the EU. Revolut said it was preparing to apply for a separate UK banking licence regardless of the outcome of Brexit and has previously said it will also seek a Luxembourg e-money licence.
https://www.ft.com/content/989904f0-fe2c-11e8-aebf-99e208d3e521
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