By PAUL O’DONOGHUE, Senior Correspondent
REVOLUT has secured a MiCA licence from Cyprus, allowing it to offer crypto services across the EU.
The authorisation makes Revolut one of the first major fintech firms to operate under the EU’s new crypto framework. The company, which has more than 65 million customers worldwide, said the licence strengthens its “compliance-first” approach to digital assets.
Costas Michael, CEO of Revolut Digital Assets Europe, said that receiving the licence “is a significant step in our journey, reflecting [Cyprus’s] confidence in our commitment to regulatory compliance in crypto.”
He added: “It’s no secret that we have ambitious plans for the crypto sector in the future, and our MiCA licence is fundamental to all of that.”
Revolut alsos plans to launch “Crypto 2.0,” a new platform that will offer more than 280 tokens. It will include zero-fee staking with rewards of up to 22% a year and direct 1:1 stablecoin-to-USD conversions without spreads, according to a press release.
Revolut MiCA
MiCA (Markets in Crypto Assets) sets uniform rules for exchanges and wallet providers. It aims to improve consumer protection and market stability. Revolut said its Cyprus base will act as a hub for European crypto operations.
The licence will also support its Revolut X trading platform and integrations with wallets such as MetaMask and Ledger.
Michael added. “MiCA gives us the clarity to deliver trusted, next-generation crypto products for Europe’s growing digital finance community.”
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