London-headquartered fintech leader Revolut plans to introduce trading for UK and EU-listed stocks starting next year, Revolut’s head of wealth and trading in the UK Yana Shkrebenkova disclosed in a Bloomberg interview.
The company, which is a hotly tipped IPO candidate in the coming years, has secured approval from the Financial Conduct Authority (FCA) to operate as an investment firm.
This approval allows Revolut to expand its services and attract more brokers for managing client assets. Some European Revolut users can currently trade US-listed stocks only.
Shkrebenkova said Revolut has already been working on technology to support UK and EU-listed stocks.
Upon launch, Revolut will find itself in direct competition with established names including AJ Bell and Hargreaves Lansdown, and newer trading platforms like eToro and Trading 212.
Revolut, which has an estimated $45 billion (£35 billion) valuation, has been rapidly expanding its services of late.
In October, it announced a payment terminal in the same vein as SumUp and Worldpay, targeting larger businesses and retailers in the UK and Ireland.
Revout’s UK customer base surpassed 10 million users in September.