Financial Services Regulation Committee
25 March 2026
No chapters available yet
Legend
Transcript markers
- text Sentence being played
- text Search result
- text Intervention cited by the link you opened
Click a sentence to play the video from that moment. Select text to quote it with the speaker, timestamp and link.
More options
Committee House of Lords
00:03 - 00:39
Speaker 1
Welcome to today's meeting, which is the thirteenth oral session as part of the committee's inquiry into growth and proposed regulation of stablecoins. And thank you very much to mister Tanner, who's head of UK government affairs and public policy at Revolut. We look forward to your evidence. The session is open to the public, is broadcast live, and is subsequently accessible via the parliamentary website, and a verbatim transcript will be taken of the evidence will be put on the website. Mister Tanner, I believe you're going to, start with, a short opening statement.
Over to you.
00:39 - 01:52
Speaker 2
Morning, everyone, and thank you very much for the opportunity to to give evidence today. Revolut is The UK's largest fintech, and as of recently, its newest bank. We currently have 13,000,000 UK customers, and as of Monday this week, all new sign ups have been onboarded onto The UK bank. We've already had tens of thousands of new, sign ups this week, which I think is a great endorsement of our banking entity, RBUK. Additionally, Revolut's group entity, Revolut Limited, is regulated via the FCA to offer crypto services via the MLR twenty seventeen regulations.
In The EU, we are regulated via MICA, where we received our license last year. This year, we joined the FCA Sandbox for stablecoins in order to test and build our potential stablecoins product. Building a regulatory framework for stablecoins is an exciting development in the payment sector. The UK government's national payments vision outlines an ambition to develop next generation payments infrastructure, but without prioritizing or choosing any single solution, which we think is right because ultimately that is a commercial decision and not one for a government, to to make. There are lots of new systems within this.
The rest of the transcript is for Pro customers
Unlock the full transcript, chat, and every analysis feature with Polyfact Pro.
Ask anything about this video — I analyse its transcript to answer.