Revolut expands crypto offering in UK and Europe with addition of 20 tokens
Revolut said it is exploring ways to introduce crypto withdrawals in Europe to allow customers to send out their tokens from Revolut to external wallets and exchanges.
Revolut has expanded the financial superapp’s investment offering with the release of 22 new crypto tokens, represents a growth of 8 times compared to the beginning of the year 2021.
The crypto offering has now surpassed 80 instruments available for customers in the United Kingdom and the European Economic Area.
The new tokens available to users include the Metaverse token APE, two DeFi tokens: REQ, ETC, and a collection of other tokens such as CLV, FORTH, AVAX, SAND, GALA, AXS, JASMY, ENS, DASH, FLOW, IMX, CRO, IDEX, REN, SPELL, PERP, BICO, COTI, and MLN.
Emil Urmanshin, Crypto General Manager at Revolut, commented: “This is another big year of crypto, and we’ve given a big boost to our offering while empowering people to take more control of their finances and giving them safe access to new tools and services being built in crypto the space”.
Revolut allows users to gain exposure to cryptoassets and leverage a number of tools, including limit orders so they don’t have to time the market, and the Recurring Buy feature to average out volatility. In addition, customers can round up spare change during their daily shopping and put it aside in cryptocurrency of their choice, the firm stated.
Revolut plans withdrawals to external wallets and exchanges
All crypto tokens are available to customers in all plans. For lower commissions, Revolut allows customers with the Standard account to update to paid plans. For customers in the Metal plan in the UK, Revolut has released a beta programme for BTC withdrawals.
Revolut said it is exploring ways to introduce crypto withdrawals in Europe to allow customers to send out their tokens from Revolut to external wallets and exchanges.
In Britain, numbers show the increased interest of Revolut customers in crypto assets: this year, the number of British customers buying cryptocurrencies grew by 6%, and the number of transactions they made by 20%, compared with the same period of 2021.
Cryptocurrencies are not regulated and are not protected by investor compensation schemes and trading may be subject to tax.
Revolut wants to widen access to crypto despsite the high risk of losses due to the extremely volatile nature of the asset class.
