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The Guardian - UK

Business

Kalyeena Makortoff Banking correspondent

Revolut finally receives UK banking licence after three-year wait

Revolut United Kingdom fintech United States

He sits speaking at web summit — Nik Storonsky, Revolut’s founder, has said the company is ‘incredibly proud to reach this important milestone’. Photograph: Piaras Ó Mídheach/Sportsfile/Getty

Revolut has secured a UK banking licence – with “restrictions” – more than three years after Britain’s most valuable fintech firm lodged its application with regulators.

It is a milestone for the company, and will help pave the way for an eventual stock market listing, but it may still be some time before it can hold its customers’ deposits.

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