Revolut Secures MiCA License to Expand Crypto Services in Europe

According to Cointelegraph, Revolut has successfully obtained a Markets in Crypto-Assets Regulation (MiCA) license from the Cyprus Securities and Exchange Commission (CySEC). This development allows the fintech company to offer regulated cryptocurrency services across all 30 markets within the European Economic Area (EEA). The acquisition of this license marks a significant step in Revolut's expansion within the crypto market, as the company prepares to launch its next-generation platform, Crypto 2.0. Revolut's CEO of Digital Assets Europe, Costas Michael, emphasized that this authorization enables the company to deliver innovative crypto products with enhanced transparency and trust for its expanding customer base. The MiCA license permits Revolut to market its comprehensive suite of crypto products under a regulated framework. With a customer base exceeding 65 million globally, including 40 million in Europe, Revolut plans to leverage this license to broaden its offerings in crypto trading, staking, and stablecoins. The introduction of Crypto 2.0 is set to provide access to over 280 tokens, zero-fee staking with returns of up to 22% annual percentage yield, and 1:1 stablecoin-to-US dollar conversion without spreads. When combined with crypto-enabled Revolut Visa/Mastercard cards, seamless on/off-ramping tools, and Revolut X's low trading fees, the platform aims to deliver one of the most comprehensive and cost-effective crypto experiences in Europe. Last year, Revolut launched Revolut X, a dedicated desktop crypto exchange designed for experienced traders. This platform offers trading for 100 tokens with low fees and real-time on/off-ramp capabilities. Since its expansion across 30 markets in the EEA, Revolut X has attracted over 14 million crypto users globally, with mobile access available via the App Store and Google Play. In addition to these developments, Revolut is reportedly expanding its crypto expertise, particularly for institutional clients, as it prepares to enter the crypto derivatives market. In June, a spokesperson confirmed the company's intentions to enhance its offerings in this area. Furthermore, in May, Revolut announced plans to invest over 1 billion euros ($1.1 billion) in France and apply for a local banking license as part of its regional expansion strategy.