Revolut is planning to launch a private bank in the UK and has been given a licence to provide complex financial instruments to clients, as the UK’s most valuable fintech looks to expand its appeal among wealthy customers. The plans come as the UK’s Financial Conduct Authority granted permission for Revolut’s trading arm to expand into “leveraged products, private wealth services and managed portfolio solutions”.
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Revolut prepares to launch private bank as it woos wealthy
This more diversified business model had attracted interest from private investors. Last year, a secondary share sale assigned Revolut a $75bn valuation. The FT has previously reported that it is...
