Revolut has finally become a full-fledged bank in Europe due to a banking license issued by the European Central Bank (ECB).
Revolut decided to move its Irish user's accounts to Revolut's business in Lithuania as its e-money license will no longer be valid post Brexit.
Revolut has launched a licenced bank in Lithuania, enabling the 300,000 customers in the country to safely deposit their salaries in deposit-protected bank accounts.
This means the London-based digital bank is now offering deposit protection of up to € 100,000 to local customers in the particular markets.
The CEO Anne Boden says the company won’t advertise on Facebook or Instagram ‘alongside scammers who are going after the savings of our customers.
The Monetary Authority of Singapore (MAS) has given permission to Revolut to allow customers to trade gold and silver on its platform.