Implications for Digital Banking in Eastern Europe
Highlights:
- The Central Bank of Ukraine has ruled that Revolut must obtain a license to operate in the country.
- This regulatory decision emphasizes the growing scrutiny faced by foreign fintech companies in Ukraine.
- Revolut’s operations could be impacted by compliance requirements, affecting its service offerings.
The Central Bank of Ukraine has stated that Revolut, a prominent digital banking platform, needs a formal license to conduct business in the country. This ruling reflects heightened regulatory scrutiny in Ukraine as the fintech landscape evolves. For Revolut, obtaining this license could involve navigating complex compliance requirements, ultimately shaping its presence and service capabilities in the Ukrainian market.
