Cyrus regulator CySEC has authorized Revolut to operate as a crypto asset service provider in the country. Following the approval, Revolut is now permitted to offer crypto asset services to European countries, including Norway. Revolut has about 17 million clients in the EU bloc, and the digital bank has a valuation of $33 billion.

Revolut Intensifies Expansion Plans

Revolut has also applied for a license in the UK and has been listed on the FCA’s temporary registration catalog. The bank said it decided to expand its services in Cyprus and other European countries because it wants to ensure that it’s under European regulations before the MiCA enforcement. The goal is to ensure that the enforcement doesn’t affect its services in Europe.

Revolut has been very vocal about its expansion to other markets. The company has been pursuing licenses and approvals in various jurisdictions. Earlier this month, the Monetary Authority of Singapore gave Revolute approval in-principle to operate in the country. Following the approval, Revolut now offers over 80 tokens in its platform, including Sandbox, Apecoin, and more.

Crypto General Manager at Revolut, Emil Urmanshin, commented on the development. He stated that the company has given a massive boost to its offering as it continues to empower people to take more control of their finances. This will provide safe access for them to use new services and tools built on crypto.

He also revealed that crypto assets contribute between 5% and 10% of the firm’s entire revenue.

Revolut Has Also Increased Its Workforce

To encourage more clients to enter the crypto space, Revolut recently rolled out a “Learn & Earn” course that rewards clients with Polkadot (DOT) tokens. The courses focus on blockchain technology and cryptocurrencies. More than 1 million clients have already completed the course, which means it has been a success.

While several other crypto firms are cutting down their workforce to adjust to the current crypto winter, Revolut seems to be doing the opposite. The company recently announced that it will be increasing its global workforce, with about 20 new job openings in the UK alone.