Revolut Obtains Cryptocurrency License in Cyprus

British fintech app Revolut has received a license from Cyprus, allowing it to offer cryptocurrency services across the European Union, the company announced on Wednesday.

The fintech firm stated that 22% of its customer base — at least 14 million out of more than 65 million users — actively trade cryptocurrencies. These users have completed Know Your Customer (KYC) verification and have full access to Revolut’s crypto services.

Cryptocurrency trading has become a major growth driver for Revolut, which recently initiated a secondary share sale valuing the company at $75 billion.

According to the company’s annual report, revenue in Revolut’s "Wealth" segment (asset management) nearly tripled last year, driven by increased crypto trading activity across the industry and the launch of the Revolut X exchange.

See also: "Crypto Treasury Firms Face Stock Market Bans in India, Hong Kong, and Australia"

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