[Revolut Receives Approval from the UK Prudential Regulation Authority to Officially Launch Banking Operations in the UK] Odaily Planet Daily News: Crypto-friendly fintech company Revolut has received approval to launch its full-license bank, Revolut Bank UK Ltd, after the UK Prudential Regulation Authority lifted restrictions on its banking license. This license allows Revolut to offer deposit accounts protected under the Financial Services Compensation Scheme (FSCS) to its approximately 13 million UK customers, with a protection limit of £85,000 (approximately $114,000) per eligible deposit per customer. Revolut will gradually roll out current accounts to a small group of customers in the coming days and expand coverage within weeks, while existing users will undergo a phased migration process over several months. Its cryptocurrency trading services will continue to operate through a separate entity within the same app and will not be covered under FSCS protection. Revolut Co-founder and CEO Nik Storonsky stated that launching a UK bank has always been a key long-term strategic focus for the company. Additionally, Revolut recently committed to investing £3 billion in the UK and creating 1,000 high-skilled jobs, while planning to invest £10 billion globally and expand into 30 new markets by 2030. Earlier this month, Revolut also applied for a new banking license with the U.S. Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation.