Share this article
Crypto-Friendly Money App Revolut Wins EU Banking License
Revolut, provider of a mobile finance app that offers crypto trading, has been granted a banking license from the European Central Bank.
Updated Sep 13, 2021, 8:40 a.m. Published Dec 14, 2018, 2:10 p.m.
Revolut, provider of a mobile finance app that offers crypto trading, has been granted a banking license from the European Central Bank.
The firm announced Thursday that the new license will ultimately allow it to offer users an account to manage all their finances from a single place through its upcoming venture Revolut Bank.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
That vision is a little way off, however. The firm said it must first build and test the features to be offered, as well as work with regulators over the coming months. Services enabled by the new license will be trialed in Lithuania next year and will expand to other European markets later in 2019.
All being well, the bank plans to launch full current accounts, overdrafts, personal loans, direct debits, an in-house payment processor, and other traditional banking services. Current account deposits of up to €100,000 (around $113,000) would also be protected under the European Deposit Insurance Scheme upon the banking launch, the firm said.
Founded in 2015, Revolut launched a bitcoin trading service in July of last year, after raising $66 million in a Series B funding round.
Later, in December, it added support for litecoin and ether, with XRP and bitcoin cash following in May of this year. The firm now supports a total of 5 cryptocurrencies and 25 fiat currencies.
Revolut boasts notable investors including Index Ventures (a backer of crypto startups BitPay and Xapo), as well as Balderton Capital and Ribbit Capital.
Revolut payment cards image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Long-Term Holders Hit Cyclical Low as Sell Pressure Finally Eases
Long-term holder supply bottomed when bitcoin sank to $80K, signaling that the wave of spot-driven selling may be nearing exhaustion as prices rebound to $90K.
What to know:
- Long-term holder supply fell to 14.33M BTC in November, its lowest level since March, coinciding with bitcoin’s $80K correction low.
- The rebound to $90K suggests the bulk of spot-driven selling from seasoned holders has passed after a 36% peak-to-trough decline.
- Unlike prior cycles, LTH behavior in 2025 shows more measured distribution rather than blow-off-top capitulation, signaling a shift in market structure.
Top Stories
