Revolut Payment App To Launch Its Own Cryptocurrency: Report

The Revolut payment app will launch its own cryptocurrency token and will start offering digital asset services that could bring crypto adoption to a new level so let’s find out more in our latest crypto news today.

Accoridng to a recent report, the Revolut payment app is looking for approval from the US Securities regulator to launch its exchange token and if this initiative is greenlighted, it will start from Europe and other non-US-based locations. Citing sources familiar with the matter, the leading fintech company I now looking to release its crypto token. One of the sources indicated that the users will be able to utilize the coin similarly to Nexo and Wirex. These developments will be possible if the initaitive recieved regulatory approval from the UK Financial Conduct Authority.

If this goes live, Revolut will focus on the EU market at first and other locations outisde of the US. The company based in London started providing crypto services a few years back and has only increased the number of offerings. It added another 11 new cryptocurrencies to its platforms like Uniswap, Yearn Finance, Cardano, and Uma. Although it is not the only fintech company that provides digital asset products to its clients and it is competing with PayPal and Robinhood, the potential implications of the new features could be considerable.

As recently reported, Revolut allows people to buy and sell crypto on its platform but previously it only allowed customers to hold crypto on the app and nothing more but now they are able to withdraw BTC to an external wallet. The company allowed crypto trading on its platform a few years ago and last year it reported a 2.5x increase in the crypto activity on its app over the past year. The Dogecoin demand doesn’t stop with Revolut since Coinbase Pro is the exchange’s professional trading platform that announced the coin’s availability that was made available on all coinbase platforms with the exchange kicking off a $1.2 million DOGE activity. Despite being started as a joke in 2013 by developers that wanted to poke fun on the market as the coin wants to be taken as a payment method.

Source: https://www.dcforecasts.com/altcoin-news/revolut-payment-app-to-launch-its-own-cryptocurrency-report/