Revolut Receives FCA Approval for Expanded Permissions, Officially Enters UK Wealth Management Market

According to Deep Tide TechFlow on May 15, as reported by Crowdfund Insider, the UK Financial Conduct Authority (FCA) recently granted a Variation of Permission (VoP) to Revolut's trading division, Revolut Trading Ltd. This allows the company to manage client investment portfolios and participate in certain transactions as a trading principal. The new permissions cover leveraged investment products, professionally managed investment portfolios, and customized private wealth services for high-net-worth individuals, all of which will be integrated into Revolut's existing mobile app. This expansion builds on Revolut's earlier acquisition of a full UK banking license earlier this year, further advancing its transformation into a comprehensive financial platform. The company also plans to launch an AI-driven portfolio recommendation tool, though the specific release date has not yet been disclosed.