Revolut has recently received a cryptocurrency licence from Cyprus’s financial regulator, enabling the company to provide crypto services across the European Union.

Subsequently, Revolut obtained a Markets in Crypto Assets (MiCA) license from the Cyprus Securities and Exchange Commission (CySEC), anticipated to facilitate the institution’s provision of regulated crypto services in all 30 countries within the European Economic Area (EEA).

The company also announced plans for Crypto 2.0, an enhanced platform featuring over 280 tokens, zero-fee staking with a potential annual yield of up to 22%, and direct 1:1 stablecoin-to-USD conversions without any spread.

Details of Revolut’s Expansion Strategy

The granted licence in Cyprus aligns with the implementation of MiCA across the EU, aimed at optimizing the operations of crypto exchanges and wallet providers. The company intends to use its base in Cyprus as a hub for EEA crypto activities, building on the development of its Revolut X trading platform and integrating wallets like MetaMask and Ledger.

This move follows Revolut’s achievement of obtaining a full banking licence in Mexico. This approval is expected to enable the provision of various financial products under local banking supervision, with deposits insured by the Instituto para la Protección al Ahorro Bancario (IPAB) up to MXN 3.4 million per customer. According to Revolut representatives, this launch aims to increase access to digital banking options and enhance consumer choice within Mexico’s financial ecosystem.

Earlier in the same month, Revolut was reportedly close to completing a USD 3 billion fundraising round, which would value the company at around USD 75 billion. Reports suggest that the round was oversubscribed, and it is expected to include a secondary share sale, providing liquidity to early backers and employees.