Regulatory Milestone and Expansion Plans
Revolut has successfully obtained a Markets in Crypto-Assets Regulation (MiCA) license from the Cyprus Securities and Exchange Commission (CySEC). This significant achievement grants Revolut the authorization to offer regulated crypto services across all 30 markets within the European Economic Area (EEA). This development is a key step in Revolut's strategic expansion within the cryptocurrency market, coinciding with the company's preparations to launch its advanced "Crypto 2.0" platform.
Costas Michael, CEO of Revolut Digital Assets Europe, expressed enthusiasm about the license, stating, "This authorisation enables us to deliver groundbreaking crypto products with enhanced transparency and trust for our growing customer base, while further reiterating our commitment to crypto as an asset class." The MiCA license permits Revolut to market its comprehensive suite of crypto products under the established regulatory framework. With a global customer base exceeding 65 million, including 40 million in Europe, Revolut intends to leverage this license to broaden its offerings in crypto trading, staking, and stablecoin services.
Introducing Revolut's Crypto 2.0 Platform
Revolut has also announced the upcoming launch of its next-generation crypto platform, Crypto 2.0. This new platform is set to provide users with access to over 280 different tokens. A key feature of Crypto 2.0 will be zero-fee staking, offering users potential returns of up to 22% annual percentage yield. Additionally, the platform will facilitate 1:1 stablecoin-to-US dollar conversion without any spreads.
The company highlighted the integrated experience of Crypto 2.0, noting, "When paired with crypto-enabled Revolut Visa/Mastercard cards, seamless on/off-ramping tools, and Revolut X’s low trading fees (0.00%–0.09%), the platform delivers one of the broadest and most cost-effective crypto experiences in Europe."
In the previous year, Revolut introduced Revolut X, a specialized desktop crypto exchange designed for experienced traders. Revolut X currently supports trading for 100 tokens, offering competitive low fees and real-time on/off-ramp capabilities. Subsequently, the company expanded its crypto exchange services across Europe, launching Revolut X in 30 markets within the EEA. The platform, now accessible via mobile through the App Store and Google Play, has garnered over 14 million crypto users globally.
Future Outlook: Crypto Derivatives Market
Revolut is also expanding its expertise in the crypto sector, with a particular focus on institutional clients. This strategic move follows reports indicating the fintech's preparation to enter the crypto derivatives market. In May, Revolut announced significant investment plans, intending to invest over 1 billion euro (approximately $1.1 billion) in France. As part of its regional expansion strategy, the company also plans to apply for a local banking license in France.