Crypto-friendly fintech firm Revolut has launched international payments-focused business accounts for clients in Australia, as it reportedly works to secure a banking license down under.
The London-based firm offers a range of fiat payment services for clients in Europe and Australia. It also offers crypto services, including the buying and selling of a number of crypto assets including Bitcoin (BTC), Ripple (XRP) and Ether (ETH). In certain regions, it also provides access to crypto-staking.
Speaking with The Australian on May 17, the CEO of Revolut’s Australian unit, Matt Baxby suggested that the firm’s major aim is to provide an app or platform where “people can manage their entire financial lives in one place,” by obtaining a banking license being a key piece of the puzzle:
“A bank licence is still very much part of our plans. To be held to that regulatory standard would give our consumers confidence for the long haul, and would enable products that are in demand from our customers. We’re working our way through that, and it’s a key part of our plans overall.”
The multi-currency business accounts kicked off this week, with Revolut enabling users to conduct up to 75,000 AUD ($49,950) worth of foreign currency exchange per month.
The accounts come with physical and digital cards,…
