- Revolut obtains MiCA license in Cyprus for EU crypto services.
- Strengthens regulatory compliance in 30 European Economic Area countries.
- Affects over 280 tokens, including major cryptocurrencies and DeFi.
Revolut has obtained a MiCA license from CySEC, enabling it to offer regulated crypto services across 30 European Economic Area countries, expanding its digital finance capabilities.
The license offers Revolut a competitive edge by providing regulatory clarity for its services, potentially increasing user engagement and institutional adoption throughout Europe’s digital finance landscape.
Revolut has acquired the Markets in Crypto-Assets (MiCA) license from the Cyprus Securities and Exchange Commission, enabling the firm to launch regulated crypto services in the European Economic Area. The license allows Revolut to align with upcoming EU-wide standards.
Costas Michael, CEO of Digital Assets Europe at Revolut, is leading the initiative. The license permits them to serve over 65 million users with a new platform named “Crypto 2.0,” which includes no-fee staking and enhanced crypto access. As Costas Michael mentioned, “Securing the license reflects CySEC’s trust in our regulatory standards. MiCA gives us the clarity to deliver trusted, next-generation crypto products for Europe’s growing digital finance community.”
The MiCA license is expected to significantly increase usage of cryptocurrencies and regulated products across Europe. This development paves the way for seamless on-off ramping and increased adoption of stablecoins and major tokens under a harmonized framework.
Financial implications include potential growth in cryptocurrency engagement through Revolut’s platforms. Previous licensing efforts in the EEA have resulted in increased trading volumes and user engagement. The MiCA license creates a consistent environment for crypto services across Europe.
The MiCA license underpins regulatory adherence, increasing confidence in Revolut’s platform. Compliance-focused initiatives are likely to attract additional users, while offering regulated staking services may boost the liquidity and inflow of major digital assets in the region.
