All articles tagged with #revolut
Revolut founder Nik Storonsky has confirmed for the first time that the fintech is planning a dual stock market listing on the London Stock Exchange and Nasdaq. While Storonsky prefers the US market for its greater liquidity and institutional investor base, the dual listing would make Revolut one of the UK’s largest publicly traded companies at its recent $115bn valuation.
Revolut has received provisional approval from the Office of the Comptroller of the Currency (OCC) to operate as a national bank in the United States. This milestone allows the London-based fintech to offer insured deposits directly to US customers, removing the need for partner banks. The company expects to launch in the first half of 2027, initially targeting expatriates with multi-currency services.
Revolut, a UK-based fintech company with 65 million customers, is exploring acquiring a US bank or obtaining a banking license to expand its presence in the US and globally, while planning a $13 billion investment over five years to grow its international footprint and launch new credit products in the UK.
Following Klarna's successful $17 billion IPO, several other fintech companies like Stripe, Revolut, Monzo, Starling Bank, and Payhawk are considered potential future IPO candidates, with market conditions becoming more favorable for fintech listings.
Revolut has initiated a secondary share sale at a $75 billion valuation, making it one of the most valuable fintech companies globally, with demand from investors and a significant increase from last year's valuation, reflecting its rapid growth and expansion efforts.
Revolut is in discussions to secure new funding at a valuation of $65 billion, indicating continued investor confidence in the fintech company's growth and potential.
Bitcoin briefly reached a record high of over $69,000 before retreating to around $67,000, with a market-wide sell-off and over $1 billion in liquidations. LMAX Digital predicts a push towards $100,000 but warns of potential setbacks, while the SEC's attempt to freeze Binance.US' operations led to mass layoffs and a 75% revenue slump. Revolut has partnered with MetaMask to offer a feature allowing users to top up their MetaMask wallets with their Revolut accounts, aiming to make adding crypto to self-custody wallets easier.
Revolut, a British financial technology company, is launching phone plans in the UK, becoming the first financial services firm in the country to offer telecom plans. The plans will include eSIMs, with basic app users able to access their Revolut app for phone top-ups, and premium package users receiving 3GB of global data monthly. The move aims to solidify Revolut's position as a comprehensive "super app" and attract a loyal customer base, while also tapping into a potentially lucrative revenue stream.
In the latest PYMNTS Provider Ranking of Digital Banking Apps, Revolut maintains its top position with a perfect score, while Wise holds steady at No. 2. Acorns and Ally are making upward moves, while Empower and Albert are slipping down the rankings. Chime and MoneyLion round out the top five, with other notable shifts in the top 10 positions.
An 18-year-old member of the hacking group Lapsus$ is accused of hacking Uber and Revolut, causing significant damage, and blackmailing the developers of Grand Theft Auto. The teenager, along with a 17-year-old accomplice, is also alleged to have blackmailed BT Group and EE, hacked Nvidia, and targeted City of London Police's cloud storage. The 18-year-old has been deemed unfit to stand trial, while the 17-year-old denies the charges.
A New York resident has warned Americans of a scam risk after he lost almost $5,000 that he was trying to send to his ailing mother using a payments app called Revolut. The company has been criticized by fraud victims who have not been issued refunds. Revolut allows users to open an account with just a phone number and no paperwork. The neobank launched in the US in 2020, and now boats more than 700,000 US customers.
Revolut's Chief Financial Officer, Mikko Salovaara, is leaving the digital bank after two years, citing personal reasons. Salovaara resigned and has not been fired, and his decision was unrelated to concerns flagged by auditor BDO about the company's financial accounts.