Revolut to Apply for US Banking License, Says Revolut CEO Nikolay SToronsky

According to Revolut CEO Nikolay SToronsky, Revolut will apply for the banking license in the United States. The company was founded in 2015. According to the CEO, the company may be able to apply for a banking license by the end of this year.

Current developments in Revolut:

Revolut is already active in Europe. She has already applied for a banking license in Europe. It currently provides prepaid cards to its customers. There are currently over 2 million Revolut users. Revolut currently offers money transfer services to its clients. Customers can send and receive different currencies all over the world. According to the CEO, Revolut will partner with the bank to launch services in the United States this summer.

Most Popular Start-up in UK:

It’s no surprise, however, that due to Revolut’s pace of growth, it is the UK’s most valued start-up. The valuation she raised in the recent fundraiser was $ 1.7 billion. He raised around $ 250 million in April.

Other companies are following suit:

Revolut is not the only company to apply for a banking license. Squire Inc is also seeking a banking license in the United States. Varo Money is another digital bank that is also seeking a banking license in the United States.

Revolut is looking to raise even more capital in order to grow at a sustained pace. Not only will it expand geographically, but it also plans to provide new products and services to its customers. It currently provides services such as personal loans, banking transactions for small businesses, as well as cryptocurrency-based services. Also, she is in the process of launching a robotics advisor. It mainly develops in the associated fields in order to be able to tap into the same clientele. This will help him grow his business fairly quickly by providing a variety of different financial services. It remains to be seen whether he is able to avoid financial sector risk in the future by lending to the right people or not.

Revolut simply works through an app. As a result, Revolut customers can easily access the company’s services via their smartphone. It currently employs 400 people. It remains to be seen whether, with the help of this banking license, it will actually be able to expand its operations significantly.

Disclaimer: The information on this site is provided for discussion purposes only and should not be misinterpreted as investment advice. This information does not in any way constitute a recommendation to buy or sell securities.

About Adam Gray

Adam Gray

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