Digital bank Revolut, owned by the fintech platform of the same name, has received a license in the UK that will allow it to provide a full range of banking services to nine million local customers.

On Thursday, July 25, fintech company Revolut announced that after a three-year delay, its lending and financial services division had finally received a licence from the UK banking regulator, the Prudential Regulation Authority (PRA).

The fintech company’s banking arm is moving on to the next stage of local market participant verification, called “restricted authorization.” This is the stage in the licensing process that all new UK financial institutions must pass, demonstrating their ability to operate.

The limited licence means that digital bank Revolut will be able to accept customer deposits and offer its products such as credit cards, personal loans and mortgages now. However, Revolut will not be able to bring new products to market until it receives final approval from the PRA. It is not specified how long the “restricted authorisation” stage will last.

Earlier, the fintech company Revolut announced the completion of beta testing of its own cryptocurrency trading platform aimed at advanced crypto traders. In the announcement of the launch of the new service, it was reported that platform users will be able to count on reduced trading fees of 0-0.09% when buying and selling crypto assets, and will also have access to advanced analytics.