Revolut Secures Full UK Banking License: A Major Boost for Crypto and Fintech Services

In a landmark move for the financial technology sector, Revolut has officially obtained a full UK banking license from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). This pivotal authorization allows the crypto-friendly neobank to offer a wider range of protected banking services directly from its UK entity, including personal and business accounts, consumer credit, and mortgages. The license enhances consumer protection, as eligible deposits up to £85,000 will now be safeguarded under the Financial Services Compensation Scheme (FSCS). This development is seen as a significant step in legitimizing and integrating cryptocurrency services within the traditional regulated banking framework, strengthening Revolut's position in the competitive digital finance landscape.