Revolut, a UK-based digital bank, has been granted permission by the Cyprus Securities and Exchange Commission (CYSEC) to offer crypto services across the European Economic Area (EEA). Revolut, which has a market cap of $33 billion, is the first organization to have the Cyprus regulator approve it to provide services for digital assets. The approval would allow Revolut to operate a new crypto-asset hub in Cyprus and provide cryptocurrency services to its 17 million EEA consumers. Revolut claimed that its decision was influenced by the island nation’s advanced regulatory framework, which also attracted companies like Crypto.com, eToro, and Bitpanda.
UK Digital Bank Revolut Gets Cyprus Green Light to Create European Crypto Hub