2024 is a good year for Revolut. After reporting £500m+ profits, Revolut finally got its UK banking license after a 3-year wait. The Prudential Regulation Authority issued the license with some restrictions, allowing Revolut to enter the "mobilization stage." This stage, which can last up to a year, permits the company to hold a maximum of £50,000 in total customer deposits. This step is typical for new banks in the UK as they transition to full operational status <a href="https://www.cnbc.com/2024/07/25/revolut-clinches-uk-banking-license-ending-three-year-wait.html" rel="noopener noreferrer" target="_blank">https://www.cnbc.com/2024/07/25/revolut-clinches-uk-banking-license-ending-three-year-wait.html</a>

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