Revolut’s regulatory roadmap can be traced back to 2016, when it acquired its first-ever e-money licence from the Financial Conduct Authority in the UK.

Revolut’s claim of being a truly global financial super app hasn’t only been restricted to its product prowess.

Throughout the years, the FinTech has deployed experienced and capable legal teams across countries to help secure authorisations in most of the locations it has expanded into.

Since 2021, the digital bank has witnessed a flurry of activities on the regulatory front – having applied for and received several permits across different categories.

With its core cross-border transaction business taking a massive hit in the wake of the pandemic, Revolut has massively diversified its business by procuring a wide variety of licences, such as trading licences for stocks and commodities, insurance distribution licences, and crypto trading licences.

Revolut also obtained a full banking licence from the ECB at the end of 2021, which enabled it to launch deposit and credit products in several European countries.

Recently, an approval was granted to Revolut by the Cyprus Securities and Exchange Commission that will allow the firm to operate as a regulated crypto business across the entire European Economic Area (EEA).

In another great article, WhiteSight looks beneath the surface and try to analyse Revolut’s playbook of building a global financial super app.

Read the full article by Sanjeev Kumar and Risav Chakraborty through the link in the comments below👇

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