Revolut Bank UK Launches, Fintech Firms Seek Bank Charters
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Revolut, the fintech company, has launched its own bank in the UK, offering deposit accounts for individuals and businesses. Existing customers will transition to these new accounts, and the bank opens doors for future services like lending. Revolut, along with other firms like Ripple and Kraken, are seeking full banking licenses, sparking a trend of fintech and crypto companies becoming traditional banks. However, the US banking lobby is considering legal action to prevent crypto firms from obtaining bank charters.
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