* Our Parent Company Crypto Token is LIVE!!! *Flag Token

Revolut bans transfers in Russia and Belarus

Date:

Share post:

British fintech firm Revolut has blocked payments to Russia and Belarus, joining a string of fintech firms pulling out of the region.

The $33 billion neobank stopped supporting money transfers to or from entities in Russia and Belarus from 12:00 GMT on March 4, according to a person familiar with the matter.

At the same time, users can no longer top up their Revolut accounts using cards issued by financial institutions in Russia or Belarus.

The news comes amid sweeping economic sanctions against Russia following its invasion of Ukraine, which began on February 24 — with fintech firms adding to the pressure.

Earlier this week, remittance firm Wise suspended its services in Russia. Shortly after, Zepz, TransferGo and Remitly took similar actions.

Founded in 2015, Revolut offers a range of payment, investment and money management services through a mobile app. The startup became the most valuable private tech company in UK history when it raised $800 million in July of last year.

The conflict in Ukraine is deeply personal for Revolut’s co-founders Nikolay Storonsky and Vlad…

Read more…

Related articles

TP-ICAP Is Supplying High-Quality Forex Data to Blockchains … – PR Newswire

TP-ICAP Is Supplying High-Quality Forex Data to Blockchains ...  PR Newswire Read more...

Cryptocurrency’s Myth of Anonymity | WIRED

If you’ve committed any internet crimes lately, you probably shouldn’t have paid for them with bitcoin. While many...

How to Build Tech and Career Skills for Web3 and Blockchain – Spiceworks News and Insights

How to Build Tech and Career Skills for Web3 and Blockchain  Spiceworks News and Insights Read more...