European digital bank Revolut has been granted authorization by the Cyprus Securities and Exchange Commission (CYSEC) allowing it to offer crypto services across the European Economic Area (EEA).

The $33 billion-valued Revolut became the first entity to be awarded crypto-asset service provider (CASP) from CYSEC, it said on Aug. 12.

The authorization will enable Revolut to offer crypto services to its 17 million customers in the EEA out of a new crypto-asset hub in Cyprus. Revolut said its choice was down to the sophisticated regulatory regime of the island country which has also attracted the likes of Crypto.com, eToro and Bitpanda.

Revolut also confirmed that it will continue to serve U.K. customers from its U.K.-based entity.