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%.
To accelerate the use of the central bank’s digital currency (CBDC), known as the “sand dollar”, The Bahamas has announced a two-year plan to integrate the currency into the operations of commercial banks.
Coinbase has partnered with Stripe to increase acceptance of digital assets and improve financial services.
The European Central Bank (ECB) has published its first progress report on the development of a central bank digital currency (CBDC).
The European Central Bank (ECB) has released its first progress report on the development of a Central Bank Digital Currency (CBDC), emphasizing robust privacy protections and operational innovations to modernize financial transactions.