Crypto-loving fintech company Revolut has gotten a banking license in Lithuania. As a result of that, the company can be active in the entire European Union. Because of its European status deposits are insured up to 100 thousand euro. The fintech startup accepts cryptocurrencies like bitcoin, ethereum, litecoin, bitcoin cash and XRP.
Because Revolut got its banking license, users from the United Kingdom, France, Germany and Poland will soon get a ‘true current account and a non-prepaid debit card’. Ultimately the company also wants to provide overdrafts and loans, but that’s something for the future.
Currently Revolut is generating 4 billion dollars in transaction volume per month. On top of that, it adds 8 to 10 thousand new accounts per day.