The application of the British FinTech company Revolut, whose founders include Ukrainian Vlad Yatsenko, has become available in Ukraine. Revolut’s head of new market launch Dmytro Strelchuk said that the company is seeking to obtain a Ukrainian banking license to add hryvnia cards to the application.
The application of the British FinTech company Revolut, whose founders include Ukrainian Vlad Yatsenko, has become available in Ukraine. Revolut’s head of new market launch Dmytro Strelchuk said that the company is seeking to obtain a Ukrainian banking license to add hryvnia cards to the application.
«Ukraine is a priority market for us. We have a goal to obtain a banking license. This is Revolut’s overall strategy — to be a local bank», — Strelchuk noted in an interview with Forbes Ukraine.
Currently, Revolut does not have the limits that exist in Ukraine (for example, a limit of 100,000 UAH on currency transfers abroad per month) because it is a European bank account, although limits may apply on the side of Ukrainian banks. However, when Revolut receives a banking license, such restrictions will appear.
Among the advantages of obtaining such a license, Strelchuk names the ability to open hryvnia cards in Revolut, as well as provide loans, acquiring for businesses, etc. In his opinion, the situation is constantly changing and potentially «these restrictions could become softer».
«Our goal is to have good relations with all regulators. Obtaining a license is a priority. However, I am not ready to comment on specific deadlines», — said Dmytro Strelchuk.
Revolut previously stated that Ukrainians formed the largest waiting list the company had on a «global scale,» but did not specify how many Ukrainians had already gained access to the application.
On February 11, the neobank app Revolut exited beta testing in Ukraine and became available to all users. Verification is done via «Diya», a video recording, and a passport photo.
