Digital Currency Platform Revolut Receives European Banking License
On Thursday, Dec. 13, digital payments platform Revolut announced that the company has been approved for a banking license in Europe by the region’s central bank. According to Revolut, the license will help it provide better access to digital currencies and also offer traditional banking services.
License Approved by the European Central Bank
“If you choose to open a full current account with Revolut Bank in the future, any funds you deposit will be protected up to €100,000 under the European Deposit Insurance Scheme (EDIS),” Revolut’s blog announcement detailed.
Revolut Plans to Roll Out Overdraft Features and Personal Loans
Additionally, the Revolut team says customers will have access to overdraft facilities and this means users won’t have to worry about ‘insufficient funds’ notifications, automatic top-ups, and negative balances.
The company further emphasized:
What do you think about the Revolut platform getting approved for a banking license in Europe? Let us know what you think about this subject in the comments section below.
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