Fintech

Revolut plans to apply for Russian banking licence despite controversy

Move comes despite digital banking start-up facing pressure in Lithuania — where it has a European banking license —over Russia ties

Revolut plans to apply for Russian banking licence despite controversy
Photo: Getty Images

Digital banking start-up Revolut is readying plans to apply for a Russian banking licence, despite facing criticism over its alleged links to the Kremlin.

The London-based fintech start-up, which secured a European banking licence from authorities in Lithuania in December, told Financial News it is hiring a head of banking based in Moscow to work closely with local regulators.

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