Crypto-Friendly Bank Revolut Granted Approval to Launch Banking Services in the UK

BlockBeats News, March 11, Cryptocurrency-friendly bank Revolut has been approved by the UK Prudential Regulation Authority (PRA) to officially launch Revolut Bank UK, offering deposit accounts protected by the Financial Services Compensation Scheme (FSCS) to around 13 million UK customers, with a maximum coverage of £85,000 per person. The new bank will gradually introduce current accounts, and existing users can continue using their current services during the migration process, which is expected to take several months.