European digital bank Revolut has been granted authorisation by the Cyprus Securities and Exchange Commission (CYSEC) which will allow it to offer crypto services across the European Economic Area (EEA). Revolut, which is valued at USD 33 billion, has received approval as a crypto asset service provider from Cyprus’ regulators.

The authorization will allow Revolut to offer crypto services to its 17 million customers in the EEA out of a new crypto asset hub in Cyprus. Revolut said its choice was down to the regulatory regime of the island country. Crypto firms are attempting to establish regulated entities in EU countries to ensure that they will be able to offer services across the economic bloc, ahead of the EU's Markets in Crypto-Assets regulation, or MiCA.

MiCA is designed to provide great consumer protection and stamp out scams, money laundering and other financial crime in the crypto industry. With 17 million customers already across the EEA, Revolut is looking to ensure it will be able to offer them crypto services once MiCA is enforced as law. Revolut also confirmed that it will continue to serve UK customers from its UK-based entity.

Its registration application with the UK Financial Conduct Authority (FCA) is currently unresolved, with the firm able to offer crypto services there via the FCA's Temporary Registration Regime. Revolut’s ambitions in Europe The firm has about 20 million customers worldwide and now offers exposure to around 80 crypto assets, after it added 22 new ones at the start of August 2022 for its UK and EEA customers. According to company representatives, Revolut’s new cryptocurrency offerings aim to empower people to take more control of their finances while giving them safe access to new crypto-related tools and services.

And it seems like the company is trying to help those that are not that experienced in the world of crypto but still want to enter it. In July the company launched a crypto educational tool that coaching users on the Polkadot (DOT) and the nascent industry. The new solution is aimed at making the jargon and the complexities of the digital asset class easy to understand.

The platform, named Crypto Learn, will be comprised of two courses. Users will have the option of taking the Crypto Basics course and the course on Polkadot and the new blockchains. Participants will be able to earn up to USD 15, to be paid in DOT, after completing a short quiz on the courses.

The company has also partnered with Stripe recently, in a move to support payments in Europe. Revolut will facilitate payments through Stripe’s existing infrastructure. The company could use the platform in more regions in future as it looks to expand in markets including Latin America, India, and the Philippines.

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