Revolut launches bank in Austria

Tuesday 19 October 2021 10:09 CET | News

UK digital banking unicorn Revolut has started operating as a bank in Austria, marking the 13th country in which it is launching as a licensed specialised bank.

2021 has seen Revolut applying for several new licenses as the company continues to expand its offering and diversify its revenue streams in the 30+ markets it operates in.

Revolut is now seeking a banking license in both the UK and Australia. In the US, the startup has applied for a bank charter via applications with the FDIC and the California Department of Financial Protection.

The company is currently testing its stock trading service which will allow users to buy exchange-traded funds (ETFs) and shares of companies listed on the New York Stock Exchange (NYSE) and the Nasdaq Stock Exchange. Another product in the pipeline is a cryptographic token that would give holders several benefits.

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Keywords: Revolut, digital banking, banking license, trading platform
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Austria
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Banking & Fintech

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