Posted on May 24, 2018 by staff

Revolut adds new cryptos after ‘overwhelming demand’


Revolut, the London-based digital banking firm which last month became the UK’s latest tech unicorn, has added Bitcoin Cash and Ripple to its growing list of cryptocurrencies.

The FinTech company’s 1.8 million customers have, since last December, been able to buy, hold and sell cryptocurrencies instantly from within its app.

In addition to Bitcoin, Litecoin and Ethereum, Revolut has now added XRP (Ripple) and Bitcoin Cash to the list.

The decision stemmed from “overwhelming demand” from the Revolut community and the fact that major cryptocurrency exchanges are yet to support these two virtual currencies.

“We launched this world-first feature in order to offer frictionless exposure of Cryptocurrencies to the mainstream population,” said co-founder and CTO Vlad Yatsenko.

“The idea of exchanges, private keys and cold storage is a complete turn off for some people, so we wanted to offer a simple way for consumers to get exposure in this area.

“We’ve been asking the Revolut community which Cryptocurrencies they would like to see next, and the demand for both XRP and Bitcoin Cash has been absolutely overwhelming.

“After months of negotiations and development work, we’re incredibly excited to offer exposure to these two digital currencies to the UK market.”

Revolut customers can instantly exchange 25 fiat currencies directly into cryptocurrency, which can then be securely held and sold directly within the app in seconds, and even allows customers to set up alerts whenever a specific cryptocurrency hits a certain value.

Revolut launched in July 2015 and has since signed up over 1.7 million customers across Europe and raised a total of $336m from well-known investors.