Revolut, the global fintech player valued at $33 billion, will soon offer commission-free stock trading to U.S. customers for the first time, CNBC has learned.

The start-up is set to announce Tuesday that it secured a U.S. broker-dealer license, enabling it to compete with the likes of Robinhood and Square in the red-hot world of retail trading, according to CEO and founder Nik Storonsky.

Founded in 2015, Revolut has grown to become one of the dominant European consumer fintech firms by continually piling on new features. The app started out as a way for people to avoid currency conversion fees while traveling, but quickly added banking, trading and crypto features among dozens of products. It now has more than 16 million customers.