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August 13, 2022
Finance Technologies

Revolut launches deposit-insured bank in Lithuania

Revolut has launched a bank in Lithuania for its 300,000 Lithuanian customers, enabling them to switch from e-money accounts to bank deposit accounts “in just a few minutes”. The UK challenger secured its Lithuanian banking licence back in December 2018, and speculation is rife that the neobank is trying to land a UK banking licence before year end. Revolut hold arounds 11% of the market in Lithuania The launch of its licensed bank comes off the back of its $500 million funding in February from TCV, which saw it list “operationalising the bank” as one of its key 2020 priorities,…
Revolut launches deposit-insured bank in Lithuania

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