A British fintech company with Russian roots, Revolut, will begin trading in shares listed in the EU and the United Kingdom from 2025, Bloomberg reported. Nikolai Storonsky’s startup received a license from the Financial Services Authority to operate as an investment company. In July 2024, Revolut received a banking license in the United Kingdom.
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Before receiving permits, the company developed the appropriate technology. In addition to trading stocks, Revolut will begin selling bonds.
The fintech company’s competitors will be Trading 212, Freetrade, Hargreaves Lansdown and AJ Bell, adds Bloomberg. The trading license will allow the company to attract brokers to manage clients’ assets and expand its client base in the United Kingdom, explained Revolut’s head of wealth and trading in this country, Yana Shkrebenkova.
In September, the company launched an investing app in Europe, competing with Robinhood Markets and eToro Group.
“If the European pilot is successful, the app will be rolled out in the UK,” Shkrebenkova said.
British financial technology company Revolut was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. The company offers banking, wealth and investment management services. In July 2024, Revolut strengthened its status as Europe’s most valuable startup, its business is valued at $45 billion. In November 2024, Revolut launched its own crypto exchange in 30 European countries.
In the fall of 2022, Storonsky renounced his Russian passport, becoming the fourth billionaire at the time to renounce Russian citizenship since the beginning of the military operation.
Author:
Ekaterina Strukova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
