The project to register Revolut as a Crypto Asset Service Provider (CASP) with the Cyprus Securities and Exchange Commission was successfully completed by Grant Thornton Cyprus (CySEC).
To better serve Revolut's 17 million European consumers, the new organization will establish a new European crypto-asset center.
A broad variety of cryptocurrency-related services are covered by CySEC's registration system for Crypto Asset Service Providers, which was implemented in 2021 and is based on the planned specifications of the future EU MiCA Regulation.
Revolut's decision to select Cyprus as its EU Crypto Hub is a vote of confidence for the island and an acknowledgment of CySEC's efforts to establish a strong regulatory framework that will draw global financial services leaders, according to Mr. Yiannos Ashiotis, Regulatory Compliance and Fund Services Leader, Grant Thornton Cyprus, who oversaw the project. We are honored that Revolut chose us to be one of their reliable partners on this venture.
"Revolut’s decision is an attestation to Cyprus’ capabilities to become a European financial services hub, as well as the quality of the human resources available to support the industry," stated Mr. Stavros Ioannou, CEO of Grant Thornton Cyprus. "At Grant Thornton Cyprus, we invest in building relationships and understanding the concerns of each client to deliver an experience that is more personal and agile and I am very proud of our Regulatory Compliance and Fund Services team for the great customer experience they provided to Revolut."
"On behalf of Revolut, I’d like to thank you [Grant Thornton Cyprus] for the support and guidance during our CASP registration with CySEC," said Mr. Costas Michael, CEO of Revolut Cyprus CASP. "Your insights and expertise were invaluable."
By fLEXI tEAM