BoE's PRA is expected to grant Revolut a full UK banking license in the near term, FT reports citing sources
Context
The news that the Bank of England's Prudential Regulation Authority is set to grant Revolut a full UK banking license is significant as it marks a pivotal moment for both the fintech sector and traditional banking dynamics in the UK. This development could enhance Revolut's competitive position and may lead to increased scrutiny and potential regulatory shifts among peer institutions, influencing the broader financial landscape and market sentiment around fintech investments.
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