Crypto trading app Revolut has won registration from the United Kingdom's Financial Conduct Authority to offer crypto services in the U.K. following a lengthy wait.
The digital banking service, which is valued at $33 billion, was added to the U.K. financial watchdog's crypto-asset firm register on Monday. The firm has about 20 million customers worldwide and offers exposure to about 80 crypto assets,
Revolut had previously offered crypto buying, selling and trading in the U.K under the FCA's temporary registration regime, or TRR, which was set up to allow firms to continue to operate while their applications were being reviewed.
When the deadline for approval passed at the end of March, the FCA allowed a select number of firms to remain on the TRR where it was "strictly necessary." As of early April, Revolut was one of five firms on TRR, along with CEX.I0, Copper Technologies, GlobalBlock and Moneybrain. None of the other four firms has subsequently been approved.
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