Revolut is planning to roll out a crypto token, sources say

Revolut, a U.K.-based challenger bank with a global footprint, is reportedly planning to launch a crypto token, subject to approval from the U.K.’s Financial Conduct Authority (FCA).

Why should we care?
Revolut’s token may resemble an exchange token along the lines of Binance’s BNB, the report suggested, and the focus for the token launch – at least for now – will be on Europe instead of the U.S. While many challenger banks have launched crypto capabilities, launching a token would differentiate Revolut from many of its competitors. The company has been increasingly embracing crypto in recent months. The company even paid for a WeWork membership using Bitcoin. Revolut, which has 16 million customers globally, says crypto services make up about 20% of its revenue, with customers being able to buy and hold a number of cryptocurrencies through the Revolut app. Revolut is the U.K.’s most valuable fintech, reportedly worth $33B. The company is planning for an eventual public listing in the U.K., the U.S. or through a dual listing.