Revolut is Adding a Crypto Payments Feature
Revolut is adding a crypto payments feature that will allow users to use their cryptocurrencies and pay for everyday purchases with a Revolut card.
Revolut is one of the most popular financial technology companies that offers digital banking. Headquartered in London, the digital bank was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko.
The new crypto service will be active from November 1st, and for a limited time, customers will also be able to earn 1% cashback on all spending on their crypto balance.
After a long wait, Revolut has received permission to offer crypto services in the UK from the country’s Financial Conduct Authority.
The platform serves around 20 million users and offers the ability to buy more than 30 cryptocurrencies.
In June, a “simplified” version of the Revolut app was released, allowing users to access secure money transfers alongside other financial services in five new countries. Customers in Sri Lanka, Chile, Ecuador, Azerbaijan and Oman will now be able to use the app to transfer money to different countries around the world.
In October, Revolut reduced its fees for “buying and selling cryptocurrencies from 2.50% to 1.99% or 0.99 euros – whichever is higher”.