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Grant Thornton Cyprus Assists Revolut Registering Crypto Hub With CySEC

Grant Thornton Cyprus Assists Revolut Registering Crypto Hub With CySEC

Grant Thornton Cyprus has successfully concluded the project of registering Revolut as a Crypto Asset Service Provider (CASP) with the Cyprus Securities and Exchange Commission (CySEC).

The new entity will form a new European crypto-asset hub to provide additional crypto services to Revolut’s 17 million European customers.

CySEC’s registration regime for Crypto Asset Service Providers which was enacted in 2021 covers a comprehensive range of crypto related services and is a based on the proposed requirements of the upcoming EU MiCA Regulation.

Mr. Yiannos Ashiotis, Regulatory Compliance and Fund Services Leader, Grant Thornton Cyprus, who led the project stated:  “Revolut’s decision to choose Cyprus as its EU Crypto Hub is a vote of confidence for the island and an acknowledgement of CySEC’s efforts to establish a solid regulatory regime that will attract global financial services leaders. We are honoured to have been selected by Revolut as their trusted partners for this project”.  

Mr. Stavros Ioannou, CEO, Grant Thornton Cyprus said: “Revolut’s decision is an attestation to Cyprus’ capabilities to become a European financial services hub, as well as the quality of the human resources available to support the industry. At Grant Thornton Cyprus, we invest in building relationships and understanding the concerns of each client to deliver an experience that is more personal and agile and I am very proud of our Regulatory Compliance and Fund Services team for the great customer experience they provided to Revolut.”

Mr. Costas Michael, CEO, Revolut Cyprus CASP, mentioned: “On behalf of Revolut, I’d like to thank you [Grant Thornton Cyprus] for the support and guidance during our CASP registration with CySEC. Your insights and expertise were invaluable."

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