Revolut Moves Forward With UK Bank Launch as License Limits Are Removed

Revolut is launching in the UK.

The popular crypto-friendly digital bank Revolut announced today that it will be launching its UK bank.

According to the firm’s official statement, the Prudential Regulation Authority (PRA) has decided to lift the restrictions on Revolut’s banking license.

With that out of the way, the launch of the local bank comes with an already existing user base of more than 13 million UK customers. Moreover, it follows the firm’s recent commitment to invest as much as $4 billion and create at least 1,000 high-skilled jobs in the country.

Speaking on the matter was the co-founder and CEO of Revolut, who said:

“Launching our UK bank has been a long-term strategic priority for Revolut, and marks a significant moment in our journey. The UK is our home market and central to our growth. We look forward to introducing a full suite of banking services to our millions of UK customers, bringing the same innovative experience we already provide across the rest of Europe. This is a vital step in our mission to build the world’s first truly global bank.”

According to the announcement, the rollout will be gradual, starting in a few days with a small group of existing customers and expanding over the coming weeks.