European digital bank Revolut has been granted authorization by the Cyprus Securities and Exchange Commission (CYSEC) allowing it to offer crypto services across the European Economic Area (EEA).
The EEA includes the 27 countries that are in the European Union, plus Iceland, Liechtenstein and Norway.
Revolut, which is valued at $33 billion, became the first entity to receive approval as a crypto-asset service provider from the Cyprus regulator, the company said.
The authorization will enable Revolut to offer crypto services to its 17 million customers in the EEA out of a new crypto-asset hub in Cyprus. The company is looking to ensure it will be able to offer them crypto services once MiCA becomes law. Revolut has about 20 million customers worldwide and now offers exposure to around 80 crypto assets.
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