Revolut to Add UK Stocks to Trading Platform
Revolut reportedly plans to add U.K. stocks to its trading platform within days.
The company gained its U.K. trading license in November, has over 800,000 U.K. trading customers, and already offers U.S. and European equities, Bloomberg reported Friday (April 11).
“We are including U.K. stocks in our offering as we’ve seen interest from our U.K. customers to get exposure to the local economy and diversify their portfolio further,” Yana Shkrebenkova, CEO of wealth and trading U.K. at Revolut, said in the report.
When Revolut received its U.K. trading license from the Financial Conduct Authority (FCA) in November, the company said it planned to offer its U.K. customers new trading products and features.
The receipt of the license made Revolut Trading an authorized investment firm, allowing it to introduce U.K. and European Union stocks and exchange-traded funds (ETFs).
The company had already operated a trading feature as an appointed representative with a principal in the U.K. since 2019, allowing it to offer an investment service through its app and enable retail customers to buy and sell shares listed in the U.S.
“Having launched our successful investment product five years ago, we strive to bring best-in-class investment products to our customers in the U.K.,” Shkrebenkova said in a November press release. “We know that there is so much more our Revolut Trading customers want from our platform, and we are working hard to deliver this, rolling out new features safely and considerately.”
It was reported March 13 that Revolut was hiring 100 new staffers while preparing to expand its U.K. banking business after receiving its British banking license last summer.
The FinTech had already begun building that side of its business and expects to have a staff of around 200 by the end of the year.
On March 18, it was reported that Revolut is working to build out its banking operations in the U.K., expand globally and then launch an initial public offering (IPO).
The company aims to become a global financial services app. It currently lets users make payments, trade assets and hold money, and it aims to expand this offering to include loans, overdrafts and mortgages.
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