Interesting read
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Would love if Revolut would have UK/German license but the article seems like FUD to me. I mean, as long as Revolut does not offer loans and as long as they will not function as fractional reserve bank there won’t be any problem. They better stick to this if they want to be trustful for the customers.
LE: I know that it’s unlikely for them to stick to this as it’s very profitable to start offering loans etc (as long as things work as planned)
EDIS should eventually be a thing so I’m not going to be too bothered by this, to be honest. In Iceland the UK ended up using their own deposit protection schemes, so maybe it should be changed anyways to ensure a country protect’s their citizens deposits
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Not realy; Google got an e-money-license, from Lithunia, others got a Lithunian license, too - add to it, that Lithunia isn’t exactly a rich country, yet with every license, they must be ready to cover up for certain amounts depending on the license… They’re currently stearing into a giant “Lithunia-Bubble”; relying too much on the EZB and the Euro-Zone.
Q is can the EU-countries backup yet another failed state in need be (first Island, then Greece, Portugal, France and Italy fighting for position 4, now Lithunia in the “endangered zone”, too… )
Then again, I’m a pessimist. I can only be surprised positivly…
Edit says: I hate autocorrect.
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