Klarna competitor Revolut on the verge of obtaining a UK banking license

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Klarna competitor Revolut on the verge of obtaining a UK banking license
Photo: Tomas Oneborg/SvD/TT

The newspaper's sources state that as soon as the British license is in place, Revolut will also seek to obtain a banking license in the large U.S. market.

The information has not been confirmed by either Revolut or the British financial authorities, who are reviewing Revolut's application.

Revolut offers banking services and payment solutions via a mobile app, and also provides stock trading, cryptocurrency transactions and insurance products, among other things.

Stockholm-based competitor Klarna has a Swedish banking license and has recently added various banking services to its buy-now-pay-later offering for online shopping.

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TT News AgencyT
By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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