Revolut launches cryptocurrency trading
Revolut is merging traditional banking and cryptocurrency by adding Litecoin and Ether trading to its app-based services.
The move to add more cryptocurrency options follows the company’s integration of Bitcoin last July. Customers will be able to buy, sell, trade and hold Bitcoin, Litecoin and Ether. Users can then hold their cryptocurrency within the Revolt app or transfer it to other customers for free.
Revolut users can also buy their cryptocurrency in all 25 base currencies, eliminating the FX fees consumers can face when they buy on most exchanges. The new service comes as consumer interest in digital currency continues to rise.
Nikolay Storonsky, CEO of Revolut, stated: “That is why we built Revolut. It allows you to exchange, send, and spend your money, completely avoiding all your banking fees without actually using a bank.”
In November, Revolut hit one million users. Furthermore, 10,000 of its customers signed up to test the beta version of its cryptocurrency service in just six days. The Revolut app currently offers digital banking, as well as card payment services via Mastercard.
Storonsky added: “Despite being one of the hottest trends in the world right now, getting exposure to cryptocurrency has notoriously been time-consuming and expensive. We’re going to open up cryptocurrency exposure to everyone, faster than any other platform on the market.”