Revolut has received a nod of approval from the MiCA framework in Cyprus.
Following the tailwind the sector has caught since the beginning of the year, the neobank has been granted the MiCA license from CySEC (Cyprus Securities and Exchange Commission).
The platform currently offers a restricted number of tokens and stablecoins, but will likely intend to expand such offerings to its massive user base.
As of 2024, Revolut has reached 50M+ users and may seek to issue its own stablecoin in the new year, if it passes all the additional requirements within the MiCA criteria specifically set for issuance, as opposed to simply custody or exchange activities.
