Revolut has kicked off its business banking initiative in Australia, actively working towards securing a banking license.

Revolut is pursuing a banking license in Australia with the intention of offering users better regulatory confidence than what is typically available.

The London-based financial institution has rolled out international payment-focused business accounts for clients in Australia, while also striving to obtain a banking license in the region.

This UK-based firm delivers a range of fiat transaction services for both European and Australian users, alongside cryptocurrency functionalities, such as buying and trading various assets including Ethereum (ETH). Additionally, crypto staking options are available in select areas. April 28, 2025 Know More Know More Read More Read more Revolut's CEO, Matt Baxby, highlighted the company's commitment to creating an all-encompassing app that enables users to manage all facets of their financial wellbeing. Gaining a banking license plays a pivotal role in this vision, boosting consumer confidence and facilitating the development of highly sought-after financial products. Baxby reaffirmed that achieving this banking license remains integral to Revolut's future plans, and they are diligently moving forward toward this aim.

News Report Technology This week, Revolut Australia has permitted up to AUD 75,000 (approximately $49,950) in foreign currency exchanges every month for its multicurrency business accounts.

James Gibson, the general manager, pointed out that there is a rising demand among Australian small and medium enterprises for robust international payment solutions, with the bank boasting over 100,000 businesses in its European roster.

Beyond standard financial offerings like money transfers, the Australian accounts for cryptocurrency, stocks, and commodities also grant access to a diverse range of assets.

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