Revolut secures UK banking license, eyes $45B valuation

Revolut, a London-based neobank and fintech company, has received a restricted banking license from the UK's Prudential Regulation Authority (PRA), more than three years after applying, according to CoinDesk. This approval puts Revolut on the path to becoming a fully licensed bank in the UK, including offering cryptocurrency services. Earlier this year, the company launched a cryptocurrency exchange for professional traders. Recently, Revolut announced plans to sell $500 million in employee-owned shares, aiming to increase its valuation to $45 billion.