UK digital bank Monzo has said 94% of its active users have upgraded to full current accounts just a year after it was given a UK banking licence. The company is now working with the Bank of England and other regulators on how best to regulate bitcoin in Britain. Monzo launched prepaid accounts in 2015 and 362,000 customers, including almost all active users, have now upgraded. Tom Blomfield, CEO, Monzo, says: "We believe that the best way to build a great product is by launching it early and improving it based on feedback from real people. Pre-paid cards belonging to the 98,000 who have not upgraded have now stopped working.
UK digital bank Monzo has said 94% of its active users have upgraded to full current accounts just a year after it was given a UK banking licence. The company is now working with the Bank of England and other regulators on how best to regulate bitcoin in Britain. Monzo launched prepaid accounts in 2015 and 362,000 customers, including almost all active users, have now upgraded. Pre-paid cards belonging to the 98,000 who have not upgraded have now stopped working.