Revolut set to launch crypto services across Europe after securing MiCA licence

Core Insights - Revolut has secured a MiCA license from the Cyprus Securities and Exchange Commission, allowing it to roll out crypto services across the EU [1][2] - The company aims to expand its crypto offerings significantly, with plans for "Crypto 2.0" that will include over 280 cryptocurrencies and zero-fee staking services [7] Company Developments - The MiCA license is seen as a critical milestone for Revolut's ambitions in the crypto sector, which has become a key part of its business strategy [1][4] - Revolut's wealth business, which includes crypto products, saw a remarkable 298% increase in revenue, reaching $674 million, driven by heightened crypto activity in 2024 [3] Competitive Landscape - Revolut faces intense competition from both traditional financial institutions and fintech firms expanding their crypto services, including PayPal, Robinhood, Stripe, and BlackRock [4][5] - Crypto-native companies like Coinbase and Kraken are also entering traditional financial service areas, intensifying the competitive environment [6]