Revolut Gains European Crypto License, Prepares Major Platform Upgrade

• Revolut received the Markets in Crypto-Assets Regulation license from Cyprus, enabling crypto services across the EEA.

• The Crypto 2.0 platform offers zero-fee staking with up to 22% APY and over 280 supported tokens.

The financial technology giant Revolut has received regulatory permission to offer cryptocurrency services across the European Economic Area through approval by Cyprus authorities. The London-based company was granted the Markets in Crypto-Assets Regulation license by the Cyprus Securities and Exchange Commission, which is a major step in its digital asset goals.

This license will allow Revolut to operate in all thirty markets in the European Economic Area with regulated cryptocurrency products and services. The fintech company now has a customer base of over 65 million users across the world, with about 40 million of them living in the European regions.

Enhanced Platform Features Zero-Fee Staking and Expanded Token Access

At the same time, Revolut declared the creation of its enhanced Crypto 2.0 platform that will increase the range of accessible digital assets and decrease the cost of trading to users significantly. The new infrastructure will offer over 280 cryptocurrency tokens, which will be a vast investment choice compared to the current offerings. 

The users will enjoy the zero-fee staking services with annual percentage returns of up to 22% on the supported digital assets without any extra fees. The platform will also launch one to one conversion of stablecoins to United States dollars without markups on the spread, enhancing cost-effectiveness of international transactions.

Costas Michael, the head of Revolut Digital Assets Europe, highlighted how the company is committed to providing innovative cryptocurrency products that are more transparent and have better customer protection systems. The improved platform will be connected to the current Visa and Mastercard-accepted payment cards of Revolut, which will enable a smooth transition between the physical and digital currencies.

The company has a specialized desktop exchange, Revolut X, which was introduced earlier and has a fee of zero to nine basis points to trade 100 tokens. The trading platform has been extended to mobile applications via major application stores and has reached out to 40 million cryptocurrency users across the globe.

According to industry observers, Revolut is strategically positioned as European financial institutions make their way through changing regulations of digital assets and increasing demands by consumers to access cryptocurrency services.

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