Crypto-Friendly Revolut Finally Earns UK Banking License

Revolut, one of the world's most valuable fintechs, finally won a banking license in its native U.K. more than three years after applying. The London-based company has entered the Prudential Regulatory Authority's (PRA) "mobilization stage," designed for new banks to operate with restrictions, Revolut said Thursday . The approval means it is on the path to becoming a fully fledged bank in the U.K. that is also licensed to offer crypto services. Revolut has allowed the buying and selling of crypto for several years and introduced a standalone cryptocurrency exchange...