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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InFintech giant Revolut has officially commenced its banking operations in the United Kingdom after regulators lifted restrictions on its license. This milestone marks Revolut's transition from an e-money institution to a fully authorized bank, with existing customers set for a phased migration to ensure operational stability. Notably, the company clarified that its crypto and stock trading services will remain separate from the new banking operations under the regulatory framework. This move is a critical step in Revolut's long-term strategy to establish itself as a dominant global digital bank. Industry experts view this development as a major boost to the company's legitimacy and its role as a bridge between traditional finance and digital assets. The regulatory milestone is expected to bolster confidence in the fintech ecosystem and potentially influence the GBP and crypto markets.