Revolut a British fintech company, has announced that the firm is currently launching ‘Revolut Lite App’ across various continents such as Latin America, South East Asia, and the Middle East in the coming months.
The news was unveiled through a Press Release from the company detailing provisions that the Lite app will allow users to make cross-border payments for free. The lite app is created as a semblance of Meta’s Facebook lite designed in 2014.
Revolut, which announced earlier on Twitter that the firm had hit a significant milestone of 25 million plus customers, also made claims that it attracts over 2000 new businesses weekly. The company has introduced 20 new products and handled over £110 billion in corporate transactions to date.
We’ve just hit another major milestone, 25+ million customers 🎉
That’s rocket-like speed 🚀 pic.twitter.com/5DPSqlsizS— Revolut (@RevolutApp) November 17, 2022
Revolut’s Head of International Expansion, Andre Silva made comments that the goal of Revolut is to make the world’s first financial super app available across the globe in order to unleash the potential of a borderless economy for everyone.
The Revolut app can be used to pay for products online, make ATM withdrawals, and conduct transfers in 120 different currencies. The firm provides a range of banking services, such as debit cards, fee-free currency exchange, stock trading, and bank accounts in the UK and Europe.
Revolut Offering Crypto Services
Revolut recently increased the focus on its cryptocurrency strategy with the introduction of 22 new coins that can be traded in its app, a hiring frenzy for crypto expertise, and education courses for its millions of consumers. The firm is also making plans to expand its personnel to Mexico and New Zealand in order to complement its existing workforce in Australia.
Revolut is now registered as one of the crypto trading firms in the UK as approved by the Financial Conduct Authority (FCA).
As a result of the approval from FCA, the firm now has complete permission to provide its goods and services to UK residents. It had previously been listed as temporarily registered for up to seven months, but it is now listed amongst 37 other cryptocurrency businesses that have received equal authorization in the United Kingdom.
Revolut has also been awarded the license to operate in Cyprus. The company received the first cryptocurrency authorization from the Cyprus Securities and Exchange Commission, creating a new European crypto-asset hub to serve its 17 million European customers with additional cryptocurrency services. Revolut said it decided to pick Cyprus after carrying out due diligence and a survey of all the European countries.
