Revolut has achieved a significant regulatory milestone by obtaining a Markets in Crypto-Assets (MiCA) license through its Cyprus entity, positioning the fintech giant to launch comprehensive cryptocurrency services across the European Economic Area. This strategic authorization enables the company to offer regulated digital asset services throughout Europe under the forthcoming MiCA framework, scheduled for full implementation in December 2024.
Concurrently, Revolut unveiled its next-generation cryptocurrency platform, Crypto 2.0, marking a substantial upgrade to its digital asset offerings. The enhanced platform will provide access to more than 280 digital tokens, significantly expanding investment options for European customers. The service introduces zero-fee staking capabilities with annual percentage yields reaching up to 22%, allowing users to earn rewards on their cryptocurrency holdings without incurring additional charges.
A notable feature of the new platform includes 1:1 stablecoin-to-US dollar conversion functionality, providing users with enhanced stability and predictability in their digital asset transactions. This development represents a strategic expansion of Revolut’s financial ecosystem, combining regulatory compliance with innovative cryptocurrency services to meet growing European demand for accessible digital asset management solutions.
The Cyprus licensing achievement demonstrates Revolut’s commitment to operating within established regulatory frameworks while expanding its cryptocurrency offerings across European markets. This regulatory approval positions the company to capitalize on the harmonized European cryptocurrency market structure anticipated under MiCA regulations.
