Revolut is aiming to become Europe's most expensive startup at $40 billion, according to the Financial Times.
Sources reveal that the fintech company is collaborating with Morgan Stanley, which aims to allow the fintech company to sell approximately $500 million worth of shares, including employee shares, to reach that valuation.
This development follows a recent investor revaluation that pegged Revolut’s value at $25.7 billion, down from $33 billion in 2021.
By achieving the target, the company will surpass NatWest, Société Générale, Lakki Bank and equal Lloyds Banking Group in market capitalisation.
Meanwhile, the company’s UK banking licence, applied for three years ago, is still under threat.
Revolut recently moved its headquarters to Canary Wharf, London and announced plans to increase its headcount by 40%.
Visa has introduced the Tokenised Asset Platform (VTAP), allowing financial institutions to create and manage fiat-backed tokens, including stablecoins and tokenized deposits.
Financial institutions in North America, Europe, and Asia are preparing to take part in upcoming digital asset trials orchestrated by SWIFT.
The CEO of PayPal has revealed that the company is actively exploring the role of cryptocurrency in shaping the future of commerce and payment processing.
SG Forge, part of Société Générale, revealed on Friday its plans to launch the EUR CoinVertible (EURCV), a euro-pegged stablecoin, on the Solana blockchain.