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The UK’s nascent challenger bank sector continues to make huge strides with Revolut, a digital-only bank, confirming on Monday that it will be applying for a US banking license. Nikolay Storonsky, CEO of Revolut, made the announcement just a month after a successful round of fundraising for the firm he co-founded.
Storonsky, a former Credit Suisse trader, launched Revolut in 2015. He has claimed previously that his decision to do so was driven by frustrations over international transaction fees and bad exchange rates while abroad.
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