Revolut extends cryptocurrency services to the Eurozone

The British bank Revolut has received regulatory approval and can now offer its 17 million European customers cryptocurrency services. The Cyprus Securities and Exchange Commission (CYSEC) has made the bank its Crypto Asset Service Provider (CASP). Now the bank can establish its European center in Cyprus and offer additional crypto services, access to the BTC in the European Economic Area (EEA).

Commenting on the development, a Revolut spokesperson emphasized that Cyprus was chosen after an «in-depth survey of all EU countries,» according to an AltFi report.

«We welcome the pan-European regulation and wholeheartedly support the European Parliament’s clear intention to support innovation while requiring strong customer protection measures to prevent any type of market abuse,» Revolut said

Meanwhile, the bank plans to increase its human resources to provide cryptocurrency services by 20%. Over the next six months, Revolut will hire employees in Europe, the United Kingdom, and the United States.

Earlier, Revolut Bank announced that 1.5 million users have completed the course of its crypto education platform just a month after the launch. Students from at least 32 countries have joined the learning process.