Revolut expands crypto offering in UK and Europe with addition of 20 tokens

Rick Steves

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.

Read this next

Institutional FX

BNY Mellon to leverage Baton System’s CCP network on its ECPO service

“The union of Baton’s extensive CCP connectivity with the ground-breaking functionality of BNY Mellon’s ECPO service forms a powerful offering to cleared derivatives market participants.”

Institutional FX

NYSE and Tel Aviv Stock Exchange to promote dual listings

“This major step is intended to foster collaborations between the two exchanges and to encourage the dual listing of Israeli companies in their home market and on the NYSE.”

Technology

TT’s KRM22 selected as risk technology partner of Chicago-based RCM

“Broad product coverage and effective risk analytics performance are essential to proper implementation of risk management and risk analysis.”

Industry News

DXtrade FX/ CFD Platform Integrated with Your Bourse for Turnkey Liquidity

DXtrade brokers received access to 30+ major banks and Tier 2 liquidity providers with Your Bourse.

Executive Moves

Wave hires Harumi Urata-Thompson as CFO of SEC-regulated crypto investment company

“With extensive experience leading teams across both the traditional finance and digital asset sectors, Harumi is well-equipped to provide our team with the immediate strategic insights needed to optimize our financial operations. She is a fantastic addition to our team as we continue to strengthen our position as one of the leading digital asset managers and to deliver sophisticated financial services to our clients.”

Retail FX

TRADE.com enters United States as brokerage obtains license from FINRA

“We intend to be fully operational as a brokerage house in the U.S. by the end of H1 2023 and look forward to forging long term relationships with new business partners and clients.”

Technology

Pico launches Corvil Cloud Analytics as trading industry moves into cloud

“Since Corvil Cloud Analytics is software only, this accelerates our deployments and also provides an expedited avenue for proof-of-concept use cases. It’s now easier than ever for clients to access the platform so they can see firsthand what makes Corvil an industry leader in data analytics.”

Executive Moves

Finalto recruits Antony Parsons as head of liquidity

Finalto, the financial trading division of Gopher Investments, is making a broader push into the liquidity provision space, culminating in a new appointment focused on expanding the business into new markets.

Digital Assets

Huobi introduces Tether’s stablecoins pegged to euro, gold

Huobi, the world’s sixth-largest crypto exchange by trading volume, is set to introduce for its clients two stablecoins representing ownership of physical gold and Euro-pegged tokens.

<