Revolut, a UK-based neobank that serves both B2C and B2B segments, obtained full registration from the UK’s Financial Conduct Authority (FCA) to offer crypto services in the country, which it had applied for in January 2021.

The neobank was able to offer crypto services under a temporary waiver from March 2022, which was set up by the FCA to allow firms to continue to operate while their applications were being reviewed.

Analyst QuickTake: The UK authorization comes on the heels of the company's success in obtaining a license to offer crypto services across the European Economic Area (EEA) last month, which was granted by the Cyprus Securities and Exchange Commission (CYSEC). The UK is Revolut's largest market with 4.8 million retail customers as of July 2022 and it has around 80 cryptocurrencies in its portfolio.