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Revolut Receives Regulatory Approval For Offering Crypto Services

Revolut, the British fin-tech company that offers banking services, has recently received regulatory authorization from the Cyprus Securities and Exchange Commission...
Revolut Receives Regulatory Approval For Offering Crypto Services © Reuters. Revolut Receives Regulatory Approval For Offering Crypto Services

Revolut, the British fin-tech company that offers banking services, has recently received regulatory authorization from the Cyprus Securities and Exchange Commission (CYSEC) to offer its 18 million user base crypto services in the European Economic Area (EEA).

Media reports suggest that the seven-year-old European banking company chose Cyprus for its sophisticated regulatory regime of the island country, which has also attracted the likes of Crypto.com, eToro and Bitpanda.

The CYSEC reveals its fintech objectives on its website and says, “As we move to a digital and online society, the use of fintech apps is exploding. Fintech enterprises are innovating new offerings for consumers, and financial institutions are partnering with them to accelerate digital asset management strategies.

“Cloud adoption for the financial sector is not plain sailing, however. Stringent regulations governing data protection need to be complied with, and guarantees that data in all its states – particularly in use – must be found,” the CYSEC stated.

Focus On Blockchain Education And Crypto

In order to encourage cryptocurrency education, Revolut started rewarding users up to $15 to “learn and earn” by passing the course and final exam. The company has been addressing questions like “what is blockchain” and “what is bonding?” on Twitter (NYSE:TWTR).

Revolut recently partnered with the Polkadot network to advance cryptocurrency. In a tweet, the company’s twitter handle explained benefits of Polkadot. “Polkadot helps to solve many limitations of bloackckain technology and allows various different bloackchains to communicate and process transactions at the same time,” stated Revolut.

On the Flipside

Meanwhile, Revolut’s registration application with the U.K. Financial Conduct Authority (FCA) remains unresolved, with the firm able to offer crypto services there via the FCA’s Temporary Registration Regime (TRR), according to media reports.

Why You Should Care

In light of Revolut receiving regulatory approval for crypto services, Patrick Hansen, the crypto venture advisor at Presight Capital, tweeted, “Cyprus is increasingly becoming an EU hub for global crypto companies.”

Similar Articles on DailyCoin:

  • Revolut Partners with Polkadot and Launches “Learn to Earn” Feature
  • Binance Value On The Rise As Binance Card Adds XRP & SHIB, as New BEP-20 Token Revolutux Sets For Launch

Continue reading on DailyCoin

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

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Indicators:

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EUR/USD

1.0658

-0.0008 (-0.07%)

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GBP/USD

1.2475

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USD/JPY

157.91

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AUD/USD

0.6469

-0.0003 (-0.05%)

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Neutral

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USD/CAD

1.3780

+0.0003 (+0.03%)

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↑ Buy

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EUR/JPY

168.32

+0.10 (+0.06%)

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↑ Buy

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

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Silver Futures

26.677

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Copper Futures

4.5305

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Crude Oil WTI Futures

81.14

-0.79 (-0.96%)

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Brent Oil Futures

85.62

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Natural Gas Futures

1.946

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US Coffee C Futures

213.73

-13.77 (-6.05%)

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↑ Sell

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Buy (3)

Sell (9)

Indicators:

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Euro Stoxx 50

4,920.55

-60.54 (-1.22%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

S&P 500

5,035.69

-80.48 (-1.57%)

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↑ Sell

Moving Avg:

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Sell (12)

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Sell (7)

DAX

17,921.95

-196.37 (-1.08%)

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Buy (1)

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FTSE 100

8,144.13

-2.90 (-0.04%)

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Sell

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Sell (4)

Hang Seng

17,763.03

+16.12 (+0.09%)

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↑ Sell

Moving Avg:

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Sell (12)

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Buy (1)

Sell (6)

US Small Cap 2000

1,973.05

-42.98 (-2.13%)

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Sell (12)

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Sell (7)

IBEX 35

10,854.40

-246.40 (-2.22%)

Summary

Neutral

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BASF SE NA O.N.

49.155

+0.100 (+0.20%)

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Bayer AG NA

27.35

-0.24 (-0.87%)

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Allianz SE VNA O.N.

266.60

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Adidas AG

226.40

-5.90 (-2.54%)

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Deutsche Lufthansa AG

6.714

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Neutral

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Siemens AG Class N

175.90

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Deutsche Bank AG

15.010

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Summary

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Moving Avg:

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Indicators:

Buy (6)

Sell (2)

 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
(0/ 0) # 1,510
SJC 1c, 2c, 5c7,380/ 7,550
(0/ 0) # 540
SJC 0,5c7,380/ 7,560
(0/ 0) # 550
SJC 99,99%7,370/ 7,470
(0/ 0) # 460
SJC 99%7,196/ 7,396
(0/ 0) # 386
Cập nhật 01-05-2024 10:45:19
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$2,285.72-47.5-2.04%
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RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
DO 0,001S-V21.32021.740
Dầu hỏa 2-K20.68021.090
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$ Tỷ giá Vietcombank
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USD25.088,0025.458,00
EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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