Fintech major Revolut has received a Markets in Crypto Assets (MiCA) license from the Cyprus Securities and Exchange Commission (CySEC), allowing it to provide regulated crypto services in all 30 countries of the European Economic Area (EEA).
Revolut, which serves more than 65 million customers worldwide, said the authorization solidifies its compliance approach to cryptocurrencies in an emailed announcement on Thursday.
The company plans to implement “Crypto 2.0,” an expanded platform featuring more than 280 tokens, fee-free staking with rewards of up to 22% annual returns, and direct 1:1 stablecoin-to-USD conversions with no spread, according to a Thursday press release.
Revolut’s move comes as MiCA comes into force across the EU, reshaping the way exchanges and wallet providers operate. The company’s base in Cyprus will serve as a hub for its crypto operations in the EEA, building on the success of its Revolut X trading platform and crypto integration with wallets such as MetaMask and Ledger.
“Obtaining the license reflects CySEC’s confidence 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 financial community.”
