- They also applied for a banking license
- And became a partner of the crypto-provider Koinly
Fintech company Revolut opens business accounts in Australia. These are multi-currency accounts that will allow customers to exchange up to AUD 75,000 per month.
In parallel, the brand applied for a banking license. The provider plans to engage in international payment services.
The head of the Australian division, James Gibson, noted that small and medium-sized enterprises are experiencing a lack of quality service. This is especially true for international payments and forex.
The main goal of the company is to provide Australians with a financial management application in one place. This requires a banking license.
Note that Revolut provides payments not only in fiat, but also in cryptocurrency. They also offer staking services.
Revolut customers in Australia will now have enhanced access to their personal accounts in Australia. There will be the purchase of cryptocurrencies, as well as investments in the stock and commodity markets.
Local crypto payment and tax provider Koinly will help you secure crypto payments. It will sync with the Revolut platform, allowing customers to view transaction history across both platforms. It will also be possible to quickly calculate taxes on Koinly.
Cryptocurrency trading accounts for about a third of Revolut’s annual income (as of 2021).