Revolut, a crypto-friendly bank, has been granted a banking licence in the UK after more than three years of application. Revolut said the London-based company had entered the "mobilisation phase" of the Prudential Regulation Authority (PRA), which aims to allow new banks to operate under restrictions. The approval means Revolut is on the verge of becoming a full-fledged bank in the UK, while also being authorised to provide cryptocurrency services.