KEY POINTS
  • U.K. fintech firm Revolut announced on Thursday it has been granted a European banking license.
  • The license will allow the London-based fintech company to offer services typically provided by traditional banks, including full current accounts, consumer and business lending and overdrafts.
  • Revolut CEO Nik Storonsky told CNBC he hopes to launch in the U.S. in March or April next year.

U.K. financial technology firm Revolut secured a big victory on Thursday in its quest to shake up European banking.

Revolut announced it was granted a banking license by the European Central Bank (ECB) that it will start to implement next year across key markets including the U.K., France, Germany and Poland.