The firm has secured a US broker-dealer license. The license took 16 months to acquire through the Financial Industry Regulatory Authority. The firm was approved to be an ‘introducing broker’ and will rely on DriveWealth, a New Jersey-based fintech firm, to clear trade.
Revolut will earn payment for order flow revenue in the US, a controversial approach used by Robinhood that has drawn the ire of the US Securities and Exchange Commission. Right before the pandemic began, the firm launched in the US in 2020.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now