Revolut to launch as a full UK bank after regulator lifts restrictions

Revolut Bank UK Ltd has received approval from the Prudential Regulation Authority (PRA) to launch as a fully licensed bank in the United Kingdom after the regulator lifted restrictions following a successful mobilisation period.

According to an announcement released on Wednesday, the approval allows the company to begin offering fully licensed banking services in the UK, enabling Revolut to expand its financial products to both retail and business customers.

The new bank will...