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- Revolut Limited, UK-Based banking service provider recently attained its Australian Financial Services license.
- Revolut’s License obtainment came to light when FinTech Australia Chairman Alan Tsen congratulated Revolut on Twitter besides releasing Revolut team’s letter.
- It will continue to offer its services to its customers right from Australia under the licence.
Revolut Limited, UK-Based banking service provider recently attained its Australian Financial Services license. Thus, It is important for firms to obtain this Australian licence as it provides necessary tools of the finance and credit system.
About Revolut Limited
Nikolay Storonsky, an entrepreneur, former Credit Suisse and Vlad Yatsenko, a bank developer founded the Revolut Limited. The fin-tech sector came to existence in 2015 in London. It is a leading banking service provider that offers its services in bank deposits, credits, currency exchange, etc.
Furthermore the firm expands its trading service in Cryptocurrency too. Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), are few coins the firm supports.
FinTech Australia Chairman congratulates Revolut for its licence obtainment
Revolut’s License obtainment came to light when FinTech Australia Chairman Alan Tsen congratulated Revolut on Twitter besides releasing Revolut team’s letter.
Congrats @RevolutApp on obtaining an AFSL 🎉 pic.twitter.com/aB4dhRTzex
— Alan Tsen (@alantsen) May 23, 2020
Tsen took to Twitter earlier yesterday to share his letter from the Revolut team. The letter outlined Revolut’s latest obtainment of license and its process. It is important to note that Revolut first launched in Australia ‘in beta mode’ last year. It’s launch in Australia included its three teams mainly in Melbourne, Sydney, and Perth. The letter noted that Revolut has been working under an exemption by ASIC that is about to expire this month-end.
Revolut’s customers to be serviced right from Aussie
Nonetheless, as of now Revolut takes pleasure to move to an Australian entity Revolut Payments Australia Pty Ltd. And reportedly, the above firm too has received its ASIC license.
The letter also highlights an important detail of this license. Revolut will continue to offer its services to its customers right from Australia through the licence.
