Revolut Bank in Germany and Europe
Revolut started as an app for spending and sending money abroad. Its European banking services run through Revolut Bank UAB. Customers in Germany bank with the German branch of Revolut Bank UAB and get a German IBAN, while crypto services run through a separate Revolut unit licensed under MiCA in Cyprus.
Banking and payments with Revolut
Revolut has an app for personal and business finances. It states more than 80 million personal customers and more than 800,000 business customers worldwide, support for more than 160 countries and regions, and banking services in more than 30 countries. Nik Storonsky launched Revolut in 2015 together with Vlad Yatsenko. Its app covers everyday spending, saving, investing and transfers abroad.
Revolut Bank in Germany
Revolut's European bank is Revolut Bank UAB in Lithuania. Customers who live in Germany can move their account to the German branch of Revolut Bank UAB and receive an IBAN starting with DE; the Lithuanian IBAN keeps working for existing direct debits and incoming payments (Revolut). Deposits stay covered by the Lithuanian deposit guarantee scheme up to €100,000 (IT Finanzmagazin, in German). Neobanks in Germany covers the digital banks active in the German market.
Crypto services under MiCA
Revolut received approval from the Cyprus Securities and Exchange Commission under MiCA, which lets it offer crypto-asset services in the 30 countries of the European Economic Area. With the license it plans a crypto offer with more than 280 tokens, staking and conversions from stablecoins to US dollars (CrowdFund Insider). The CASP license explains what a crypto-asset service provider may do under MiCA and how the passport works.
Upcoming payments events in Europe
Payments & Digital Money
Investment & Digital Assets
Is Revolut a bank?
Yes. In Europe, Revolut Bank UAB holds a Lithuanian banking license, and German customers bank with its German branch. Revolut Bank's EEA authorization is supervised by the European Central Bank and the Bank of Lithuania (in German).
Does Revolut give German IBANs?
Yes. Customers who live in Germany and move to the German branch receive an IBAN starting with DE. SEPA direct debit explains how direct debits work in the SEPA area.
Banking and crypto rules
Revolut and Finance Loop
Finance Loop covers digital banks, instant payments and MiCA in its Payments & Digital Money and Investment & Digital Assets tracks. Bankers, fintech founders and regulators meet at Finance Loop events in Frankfurt and other German cities.
Finance Loop is a professional network and has the goal of driving the adoption of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.