Revolut has submitted an application for a banking license to the U.K. Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).
Challenger bank Revolut applied for UK banking license and ex-Standard Chartered chief Richard Holmes is supposed to aid the process.
Revolut is preparing to submit a banking license application to the Bank of England and hopes to secure it before the end of the year.
Revolut mistakenly announced that premium customers will be able to transfer Bitcoin (BTC) from the platform to external wallets.
Starling Bank has the most switched-to digital-only bank and the second most switched-to bank in the final quarter of 2020.