2 Million Revolut Customers Get More Cryptocurrency Access
In the heady days of 2017, Revolut Ltd promised it would continue to add cryptocurrency choices for its customer base. The future promise was made after its rollout of onboarding bitcoin core (BTC), litecoin (LTC), and ether (ETH) to eager users. Just this week, the England-based company made good by further adding bitcoin cash (BCH) and ripple (XRP).
Also read: Bitcoin Use Case: Limiting Government Growth
Revolut Adds Bitcoin Cash and Ripple to its Crypto Offerings
In a series of questions and answers format for their unconventional press release this week, the company asked itself “Why did you only add XRP and BCH?” The answer was “Simple – these were the two most popular cryptocurrencies our community wanted, so we rolled up our sleeves and made it happen.” They went on to stress how they’re looking to do even more crypto-related service in the future, asking customers “make some noise and let us know what you want us to add next. We’ll take care of the rest.”
London’s Revolut kept its promise. Following eager anticipation of its initial embrace of three cryptocurrencies (BTC, ETH, LTC), and successful implementation, the skyrocketing financial technology company announced this week it is now implementing bitcoin cash (BCH) and ripple (XRP) to its basket of cryptos.
The three year old digital bank has a popular prepaid debit card, peer-to-peer payments platform, and both currency and cryptocurrency exchanges for its two million customers. To stay competitive, Revolut operates a loss leader fee structure for many of its services (free). Its proprietary application allows fiat-to-crypto in over two dozen government currencies, serving over 100 countries worldwide. The company’s backend transactions are managed by crypto exchange heavy Bitstamp.
Open and Available to Everyone
“With hundreds of thousands of customers now actively exchanging cryptocurrencies in the app,” Revolut explained in a cheeky announcement, “the popular view was that we needed to add more digital currencies in addition to bitcoin, litecoin and ether. After months of debate and hard work, we’re extremely proud to welcome XRP and BCH to the Revolut app, which means you can now instantly exchange any of our 25 supported fiat currencies directly into XRP and BCH.”
And even though many establishments balk at direct crypto commerce and trade, Revolut customers will be able to use either their Mastercard or Visa regardless. Revolut does all the conversions instantly which could go a long way in enabling the currency aspect of cryptocurrency. Premium customers are provided a concierge-like service along with 1% crypto cashbacks.
“We have always believed that the world of cryptocurrencies should be open and available to everyone, and not reserved for the tech savvy and digital currency enthusiasts,” the company detailed. “So, back in December, we launched a product that would allow millions of our customers to instantly buy, hold and sell cryptocurrencies at the touch of a button. No exchanges. No private keys. No cold storage. Just instant exposure at your fingertips.”
Do you think Revolut will dive more? Let us know what you think of this subject in the comments below.
Images via Pixabay, Revolut, Bitstamp.
The post 2 Million Revolut Customers Get More Cryptocurrency Access appeared first on Bitcoin News.
You may be interested
Capital One Seeks Blockchain Patent for ‘Collaborative’ Authentication Toolbtcethereumadmin - August 17, 2018
U.S. banking giant Capital One is working on using blockchain technology to usher in more convenient and secure user authentication…
3 Charts Suggest Bitcoin Prices Could Be Headed Higherbtcethereumadmin - August 17, 2018
For bitcoin (BTC), the path of least resistance is to the upside, according to technical charts. At press time, the…
JD.com Rolls Out Blockchain Platform With Its First Appbtcethereumadmin - August 17, 2018
Chinese e-commerce giant JD.com has launched a blockchain-as-a-service platform alongside its first app – one that digitally tracks corporate invoices…