Fintech Firm Revolut Secures MiCA License to Expand Crypto Services Across Europe

Revolut, a British multinational neobank, has obtained a Markets in Crypto-Assets (MiCA) license from the Cyprus Securities and Exchange Commission (CySEC). This regulatory approval enables the fintech giant to offer crypto-asset services across all 30 European Economic Area (EEA) countries, significantly expanding its footprint in Europe's digital finance landscape.

The license underscores Revolut's commitment to compliant crypto offerings amid increasing regulatory scrutiny. With over 40 million European users already on its platform, the firm is poised to leverage MiCA's harmonized framework to scale its crypto products. "Crypto is integral to our vision of borderless banking," said Emil Urmanshin, Revolut's Director of Crypto & New Bets.

Costas Michael, CEO of Revolut Digital Assets Europe, emphasized that CySEC's endorsement validates the company's adherence to stringent compliance standards. The development comes as European regulators implement MiCA to create consistent crypto regulations across member states, potentially boosting institutional participation in digital assets.