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⚡️ Revolut Exits Ukraine After Only 10 Months: Monobank Monopoly or Regulatory Pressure?
The British fintech giant Revolut has officially announced it is closing the accounts of its Ukrainian clients. What began as an ambitious market entry in February 2025 has come to an abrupt end this December.
What happened?
The official reason cited is "aligning operations with the requirements of Ukrainian legislation." Despite grand plans to simplify cross-border payments and integration, the neobank hit a brick wall of local regulations.
Key Theories Behind the Exit:
Regulatory Pressure: The National Bank of Ukraine (NBU) continues its strict policy on capital controls and its crackdown on "mis-coding." It is likely that Revolut’s business model couldn't adapt to the current licensing demands.The "Gorokhovsky" Factor: Oleg Gorokhovsky, co-founder of monobank, has often joked about global players trying to enter his "home turf." The crypto community is already buzzing with speculation: is this the result of powerful lobbying by local giants to maintain their effective monopoly on high-tech banking?Crypto Gateways: For many Ukrainians, Revolut served as a vital bridge for P2P transactions on Binance. The closure of these accounts is a significant blow to liquidity and P2P arbitrage convenience.
What should users do?
Revolut is providing a limited window to withdraw funds. If you used the bank for crypto "on-ramps" or "off-ramps," it’s time to look for alternatives—though the options within Ukraine are shrinking fast.
It seems the Ukrainian fintech market remains a "closed club." We are waiting for official statements from the NBU and, inevitably, some ironic posts from Gorokhovsky’s Telegram channel.
What’s your take: Is this a necessary protection of the national market or a step backward from globalization? Let us know in the comments! 👇
#Revolut #Ukraine #Fintech #Monobank #Banking
The British fintech giant Revolut has officially announced it is closing the accounts of its Ukrainian clients. What began as an ambitious market entry in February 2025 has come to an abrupt end this December.
What happened?
The official reason cited is "aligning operations with the requirements of Ukrainian legislation." Despite grand plans to simplify cross-border payments and integration, the neobank hit a brick wall of local regulations.
Key Theories Behind the Exit:
Regulatory Pressure: The National Bank of Ukraine (NBU) continues its strict policy on capital controls and its crackdown on "mis-coding." It is likely that Revolut’s business model couldn't adapt to the current licensing demands.The "Gorokhovsky" Factor: Oleg Gorokhovsky, co-founder of monobank, has often joked about global players trying to enter his "home turf." The crypto community is already buzzing with speculation: is this the result of powerful lobbying by local giants to maintain their effective monopoly on high-tech banking?Crypto Gateways: For many Ukrainians, Revolut served as a vital bridge for P2P transactions on Binance. The closure of these accounts is a significant blow to liquidity and P2P arbitrage convenience.
What should users do?
Revolut is providing a limited window to withdraw funds. If you used the bank for crypto "on-ramps" or "off-ramps," it’s time to look for alternatives—though the options within Ukraine are shrinking fast.
It seems the Ukrainian fintech market remains a "closed club." We are waiting for official statements from the NBU and, inevitably, some ironic posts from Gorokhovsky’s Telegram channel.
What’s your take: Is this a necessary protection of the national market or a step backward from globalization? Let us know in the comments! 👇
#Revolut #Ukraine #Fintech #Monobank #Banking
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Revolut is leaving Ukraine after 10 months: monopoly monobank or regulator's demands?
⚡️ Revolut is leaving Ukraine after 10 months: monopoly monobank or regulator's demands?
The British fintech giant Revolut announced the closure of accounts for Ukrainian clients. The large-scale market entry, which began in February 2025, ended with an unexpected finale in December.
What happened?
The British fintech giant Revolut announced the closure of accounts for Ukrainian clients. The large-scale market entry, which began in February 2025, ended with an unexpected finale in December.
What happened?
See original
💡 Monobank and crypto: is the future closer than it seems? 🪙
Oleg Gorokhovsky, the founder of Monobank, shared an interesting story. 📜 The company had already developed a solution to simplify entry into the world of crypto for Ukrainians, but the project had to be frozen due to regulators.
However, there is hope! 🌟 Gorokhovsky is confident: if regulation becomes softer in 2025, the team is ready to return to the project. And you know what? There is already a demand for such services! 👥
The businessman admits that he himself invests in cryptocurrencies and considers them an important asset for the future. 🤑 And with the return of Trump's team to politics, enthusiasm around crypto may grow around the world.
Will Ukraine be ready for a crypto revolution? 🤔 Share your thoughts in the comments!
#CryptoUkraine #Monobank #Cryptocurrency #CryptoNews #Investing
$BTC
Oleg Gorokhovsky, the founder of Monobank, shared an interesting story. 📜 The company had already developed a solution to simplify entry into the world of crypto for Ukrainians, but the project had to be frozen due to regulators.
However, there is hope! 🌟 Gorokhovsky is confident: if regulation becomes softer in 2025, the team is ready to return to the project. And you know what? There is already a demand for such services! 👥
The businessman admits that he himself invests in cryptocurrencies and considers them an important asset for the future. 🤑 And with the return of Trump's team to politics, enthusiasm around crypto may grow around the world.
Will Ukraine be ready for a crypto revolution? 🤔 Share your thoughts in the comments!
#CryptoUkraine #Monobank #Cryptocurrency #CryptoNews #Investing
$BTC
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