Revolut gets Cyprus crypto licence as it targets more users
British fintech giant Revolut has secured a crypto licence from Cyprus, enabling it to continue offering digital asset services across the European Union under the new Markets in Crypto-Assets (MiCA) framework. The approval ensures Revolut’s compliance with upcoming EU-wide regulations, giving it a strong foothold to expand crypto operations seamlessly across member states.
The licence also underscores the growing role of crypto in Revolut’s business model. Out of its 65 million+ global users, around 22% nearly 14 million actively use its crypto services. This milestone positions Cyprus as a key regulatory hub for Revolut’s European crypto offerings and reinforces the company’s commitment to building a compliant, scalable infrastructure for digital finance under the evolving MiCA regime.
EU authorisation and passporting
The licence, granted by the Cyprus Securities and Exchange Commission (CySEC), gives Revolut the ability to “passport” crypto-asset services across the EU, as envisaged by MiCA. Under MiCA, authorised Crypto-Asset Service Providers (CASPs) can operate EU-wide via a single licence, with ESMA maintaining a public register. ESMA+1
Product lineup and crypto strategy
Revolut first introduced in-app crypto trading in 2017 and, in 2024, launched Revolut X a standalone exchange aimed at experienced traders, with low fees and on/off ramps. The firm says crypto activity has helped nearly triple its Wealth segment revenue last year.
Why Cyprus?
Cyprus has positioned itself as a MiCA gateway, with CySEC acting as the national competent authority to authorise CASPs. Firms licensed in Cyprus can serve customers across the European Economic Area through passporting, subject to ongoing compliance, disclosures and governance rules.
Implications of the Revolut Cyprus crypto licence for customers
For Revolut’s EU customers, the licence formalises consumer-protection, disclosure and conduct standards under MiCA while preserving access to Revolut’s crypto features. For Revolut, it ensures operational continuity in the bloc and supports scaling Revolut X alongside the core app.
How the Revolut Cyprus crypto licence fits the growth narrative
Revolut’s recent $75bn secondary-sale valuation and a growing crypto user base suggest the company views regulated EU crypto services as a durable revenue pillar, complementing cards, FX and investing.
Context & Analysis
Regulatory clarity under MiCA is encouraging larger, multi-product fintechs to formalise EU crypto operations. Revolut’s Cyprus licence aligns with its push to scale Revolut X and deepen Wealth revenues, while giving EU retail users a clearer framework on disclosures, custody and conflicts of interest.
Concluding Remarks
Revolut’s authorisation from the Cyprus Securities and Exchange Commission (CySEC) under the MiCA framework ensures uninterrupted crypto services across the European Union. The licence strengthens its position as a leading fintech player while aligning its operations with upcoming EU-wide digital asset regulations.
Looking ahead, market watchers will focus on updates to the ESMA register, the rollout of new MiCA-compliant products, and how competitors respond. Other fintech and exchange platforms are expected to pursue similar licences to stay competitive on transaction fees, liquidity, and regulatory standards setting the stage for a new phase of regulated crypto growth across Europe.
FAQs
Q: What does the Revolut Cyprus crypto licence allow?
A : It authorises Revolut to offer crypto services across the EU under MiCA via passporting.
Q: How many Revolut customers use crypto?
A : About 14 million, roughly 22% of the total user base.
Q: When did Revolut launch its dedicated crypto exchange?
A : Revolut X launched in 2024 for experienced traders.
Q: Why base the licence in Cyprus?
A : CySEC offers MiCA authorisation with EU passporting, letting firms serve customers across the EEA.
Q: Is this related to Revolut’s $75bn valuation?
A : The licence supports growth; a recent secondary sale valued Revolut at about $75bn.
Q: How can I verify Revolut’s authorised entity?
A : Check ESMA’s public register and Revolut’s help center for entity details (RDAEL).
Q : Does MiCA change consumer protections?
A : Yes, MiCA introduces uniform EU rules on disclosures, custody, and conduct for CASPs.
Facts
Event
Revolut secures Cyprus crypto licence enabling EU-wide services under MiCADate/Time
2025-10-23T15:14:00+05:00Entities
Revolut Ltd; Cyprus Securities and Exchange Commission (CySEC); European Securities and Markets Authority (ESMA); European Union (MiCA)Figures
65m+ customers; ~22% crypto users (~14m) (company figures)Quotes
“One fifth of [Revolut’s] customers trade cryptocurrency.” Company statement via ReutersSources
Reuters (news), ESMA MiCA overview (regulatory context) see links below. Reuters+1