Following this announcement, the company aims to provide its customers and partners in the region of the UK and EU with access to optimised and secure investment products.
Although it has plans for an initial public offering, Revolut has not revealed when and where the listing is most likely going to take place. The financial institution is expected to continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Revolut represents a global neobank and financial technology company that provides banking services for retail clients, companies, and businesses. Included in its suite of solutions are banking tools, currency exchange, debit and credit cards, virtual cards, Apple Pay, interest-bearing vaults, as well as personal loans, BNPL, stock trading, crypto, human resources, and more.
According to the company’s officials, the firm had been developing the necessary technology before obtaining its licence, aiming to work with more brokers and expand its UK customer base as well.
Revolut announced that it obtained a banking licence in the region of the UK back in July 2024, with some restrictions imposed by the Prudential Regulation Authority. In order to finalise its UK banking operations before launching in full, Revolut entered the so-called `mobilisation` stage. This stage represents a common industry process that is experienced by multiple banks, such as Monzo, Starling, Atom Bank, Zopa Bank, GB Bank, and Kroo, which limits the authorised financial institutions to hold only GBP 50.000 in total customer deposits.
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