Search results for Prudential Regulation Authority
Finance
Woori Bank wins UK licence for London trading centre, to begin operations this month
Woori Bank has obtained licences from UK regulators needed for client-facing derivatives business and securities management, it said. The bank said its London trading centre received approvals from the Financial Conduct Authority and the Prudential Regulation Authority on May 29. Woori Bank began work on setting up the centre in January last year and submitted its application in July, receiving final approval about 10 months later. It plans to start full operations this month after completing internal procedures.
Crypto
Revolut wins UK banking licence after five years
Revolut has obtained a licence to operate as a full bank in Britain, CNBC reported on Tuesday. The approval follows a five-year regulatory process and allows Revolut to offer formal bank accounts to retail and corporate customers in the UK. CEO Nikolay Storonsky (니콜라이 스토론스키) called the UK bank launch a long-standing strategic priority and a milestone in its mission. Revolut is also applying for a U.S. banking licence.
Crypto
Revolut drops plan to buy U.S. bank, seeks licence directly
Crypto-friendly British fintech unicorn Revolut has dropped plans to acquire a U.S. bank and will instead apply directly for a banking licence through the Office of the Comptroller of the Currency, Cointelegraph reported on Thursday, citing the Financial Times. Revolut had unveiled a strategy in September 2025 to buy a U.S. bank to accelerate global expansion but shifted to pursuing its own licence. Sources said it would be faster and avoid branch obligations.