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The authorization will let the firm, which was valued at $33b in a recent funding round, offer crypto services to its 17m customers in the European Economic Area out of a new crypto-asset hub in Cyprus. Revolut said its choice was down to the sophisticated regulatory regime of the island country which has also attracted the likes of Crypto.com, eToro and BitPanda.
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Revolut also confirmed that it will continue to serve U.K. customers from its U.K.-based entity. Its registration application with the U.K. Financial Conduct Authority (FCA) remains unresolved, with the firm able to offer crypto services there via the FCA's Temporary Registration Regime.
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