Revolut secures MiCA license from Cyprus to offer crypto across Europe
Global fintech giant Revolut has officially received authorization under the Markets in Crypto-Assets (MiCA) framework from the Cyprus Securities and Exchange Commission (CySEC), allowing it to offer regulated digital asset services across all 30 European Economic Area (EEA) countries.
The move positions Revolut as one of the first major fintech firms to achieve compliance with the European Union’s landmark crypto regulation, which recently took effect, reports Cryptopolitan.
Revolut confirmed that its Cyprus hub will now serve as the company’s European crypto operations center. In an email on Thursday, the firm — which has over 65 million users worldwide — emphasized that the MiCA license underscores its “compliance-first approach” as it builds out a full-scale crypto ecosystem across Europe.
“Securing the licence reflects CySEC’s trust in our regulatory standards,” said Costas Michael, CEO of Revolut Digital Assets Europe. “MiCA gives us the clarity to deliver trusted, next-generation crypto products for Europe’s growing digital finance community.”
Crypto 2.0 and Revolut’s expanding digital asset ecosystem
Revolut’s newly licensed platform will support its upcoming “Crypto 2.0” initiative — a next-generation trading suite featuring over 280 tokens, staking rewards of up to 22% APY, 1:1 stablecoin conversions to USD with no spread, and zero to 0.09% trading fees. The app also offers crypto-enabled Visa and Mastercard cards, direct on/off-ramping tools, and instant trading capabilities for retail and institutional users alike.
Since launching crypto trading in 2017, Revolut has continued to expand aggressively. In 2023, it debuted Revolut X, a professional-grade crypto exchange in the UK, which has since expanded to all EEA markets. The neobank has also rolled out mobile support for Revolut X through the App Store and Google Play, and bolstered its Revolut Ramp service — a one-click crypto purchase tool integrated with MetaMask and Ledger wallets.
The company says these efforts are part of its mission to make digital finance more accessible, combining the convenience of banking with the speed and flexibility of blockchain.
Global expansion continues despite UK setbacks
While Revolut accelerates its growth across Europe and the Americas, it still faces regulatory headwinds in its home market, the UK. The firm has yet to secure a full UK banking license, despite the Prudential Regulation Authority granting it conditional approval last year. Regulatory restrictions remain in place while the firm completes its final compliance steps.
Nonetheless, Revolut’s global expansion remains on track. The company recently secured a banking license in Mexico, authorized by the National Banking and Securities Commission (CNBV) and approved by the Bank of Mexico, marking the first time an independent digital bank has achieved full authorization in the country. Mexican deposits will now be insured up to 3.4 million pesos by the Instituto para la Protección al Ahorro Bancario (IPAB).
Additionally, Revolut is expanding into India via partnerships with Visa and the Unified Payments Interface (UPI), allowing seamless cross-border payments. The neobank also maintains operations in the US and Brazil and is in the process of acquiring a bank in Argentina.
Revolut plans to enter 30 new markets by 2030, investing £10 billion to reach 100 million daily active users by 2027.
Recently we wrote that the fintech company Revolut has introduced its new Revolut Terminal in the UK and Ireland.
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