According to a recent report, Revolut is seeking approval from the UK securities regulator to launch its exchange token. If the initiative gets the green light, it will kick off in Europe and other non-US based countries.
- Citing people familiar with the subject, CoinDesk earlier reported that Revolut – a leading financial technology company – wanted to publish its cryptocurrency token.
- One of the sources indicated that users could use the room in the same way as Wirex and Nexo. However, such a development would only be possible if the initiative received regulatory approval from the UK’s Financial Conduct Authority (FCA).
- If launched, Revolut will initially focus on the European market and other locations outside of the United States.
- The London-based company started providing cryptocurrency services a few years ago and has only increased the number of offers. Most recently, the company added 11 new cryptocurrencies to its platform, including Cardano, Uniswap, Yearn Finance, and Uma.
- While it isn’t the only fintech company providing digital asset products to its customers, as it competes with PayPal and Robinhood, the potential implications of its cryptocurrency could be substantial.
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