Revolut Launches UK Bank, Unlocking Regulated Crypto Services

Full Banking Operations: Revolut secured regulatory approval to operate a full-service bank in the UK, removing previous license restrictions.
Phased Customer Migration: The fintech firm will begin migrating its millions of UK customers to the new Revolut Bank entity in stages.
Enhanced Crypto Access: The launch provides a regulated framework for fiat-to-crypto transactions, expected to boost user confidence and adoption in the UK.

Revolut Secures Full UK Banking License

Financial technology company Revolut has launched its bank in the United Kingdom after regulators officially lifted restrictions on its operating license. This development allows the firm to function as a full-service bank. Revolut will now begin a phased migration of its existing UK customers to the new banking entity, which will offer a wider range of regulated financial services.

New Bank Paves Way for Smoother Crypto On-Ramps

The launch marks a significant step for cryptocurrency integration within the UK's mainstream financial system. By operating under a full banking license, Revolut can provide more secure and seamless fiat-to-crypto on-ramps for its millions of UK users. This regulated environment is expected to enhance the legitimacy of digital assets, simplify the process for new investors, and potentially increase liquidity and confidence in the UK crypto market.