Revolut, the British fintech giant with over 65 million global customers, has obtained a Markets in Crypto Assets (MiCA) license from the Cyprus Securities and Exchange Commission (CySEC). The authorization allows the company to offer regulated crypto services across all 30 countries in the European Economic Area (EEA) under the EU’s new MiCA framework.

The license positions Cyprus as Revolut’s central crypto hub for Europe, managing the company’s growing digital asset operations and supporting its trading platform Revolut X, as well as integrations with wallets such as MetaMask and Ledger.

Costas Michael, CEO of Revolut Cyprus/Digital Assets Europe, emphasized that "This milestone is the start of our next chapter. It’s no secret that we have ambitious plans for the crypto sector in the future, and our MiCA license is fundamental to all of that. We embrace the responsibilities that come with this license and are already hard at work fulfilling all new and ongoing conditions."

The MiCA regulation, which took effect across the EU this year, introduces strict transparency, consumer protection, and compliance standards for exchanges and wallet providers. Revolut was among the early movers, migrating its European crypto operations to Cyprus and pausing new sign-ups earlier in 2024 to meet MiCA’s stringent requirements.

The CySEC approval follows closely on the heels of Revolut’s banking license win in Mexico, making it the first independent digital bank to be fully licensed in the country. Revolut aims to grow from 65 million to 100 million customers by mid-2027, backed by a planned £10 billion global investment and expansion into Latin America, including Colombia, Argentina, and Brazil.

While Revolut’s international footprint expands, its UK banking license application remains under review, with regulators reportedly cautious about risk management amid the firm’s rapid growth.