Revolut has launched a licensed bank in Lithuania.
The FinTech received its banking license form the European Central Bank in 2018.
It currently has 25 offices and 10mn customers globally.
Account deposits of paycheques and funds are enabled in the new bank.
What does this mean?
Existing Revolut customers will be able to upgrade their emoney account to a full bank deposit account. The FinTech intends to make Lithuania its regional hub for central and eastern Europe, and soon it will add Revolut Junior to its licenses offering, as well as consumer loans and credit cards.