fintech / news / / The Irish Times
Revolut employees will don their black ties on Thursday night and head to the City of London’s Mansion House to toast the $75 billion (€63.8 billion) fintech securing a full banking licence after a four-year wrangle with British watchdogs.
Revolut has secured a full UK banking licence after a four-year process with British regulators.
KEY POINTS
- Revolut's application for a US banking licence focuses on digital assets and payments, not traditional lending.
- Revolut will launch consumer credit products, overdrafts, and credit cards in the UK following the licence.
- The company plans a secondary share sale later this year targeting a $100–$120 billion valuation.
- Revolut's business model relies primarily on fee-based income, not lending, unlike traditional banks.
COMPANIES
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