Revolut introduces 11 new cryptocurrencies to its buying, selling service

Revolut, the London-headquartered neo-bank, announced it had added the option for customers in the UK and EU to buy and acquire 11 more cryptocurrency tokens, bringing the total number of digital coins the lender lists to 21.

In a blog post published Thursday, the new set of cryptos are Cardano (ADA), uniswap (UNI), synthetix (SNX), UMA, bancor (BNT), filecoin (FIL), yearn.finance (YFI), Numeraire (NMR), loopring (LRC), the graph (GRT), and orchid (OXT).

The British electronic banking service first added bitcoin (BTC) to its platform in July 2017, soon after ether and litecoin followed later that year. Revolut has been busy expanding its digital footprint last year and making cryptocurrencies more accessible to its fan base.

Revolut delivers

“You asked for new tokens, we’ve delivered. We’ve been tracking hot tokens and top movers to bring our UK and EU customers 11 new cryptocurrencies,” AltFi quoted the fintech, which is well on its way to becoming a financial “super app”, as saying in a blog post.

As of 2019, Revolut users held more than $120 million in cryptocurrency. The bank’s U.S. clients, who can trade crypto thanks to its partnership with Paxos unveiled in 2020, can only access Bitcoin, Bitcoin Cash, Litecoin and Ether.

New crypto additions

The large addition of new cryptocurrencies — a blend of currencies native to trendy blockchain programs and coins linked with more obscure projects that have been in existence for years — mirrors the recent wave of popular fintech platforms adding new crypto features.

According to the blog post, Revolut’s crypto funds are held in cold storage with “some of the best custodians in the crypto game.” Revolut has more than 15 million customers around the globe. It expanded its crypto offering to Australia and nearly 50 states in the U.S. last year.

A recent AltFi investigation has found that Revolut could potentially be sitting on a stack of crypto valued at more than $1 billion, and while customers can’t actually remove their coins from their Revolut digital wallets, it’s a clear indication that digital currency trading is increasingly attracting more users.

 

Image courtesy of Roger Brown/Pexels

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