April 1, 2023

Revolut online bank has opened the possibility of cryptocurrency trading for all users

British startup Revolut has announced that holders of standard accounts in its banking application are now all operations with cryptocurrencies are available, reports Cointelegraph.

Previously cryptocurrency accounts and trading operations withonly digital and metal clients could use digital assets. The company planned to expand the options on Standart accounts later this year, but because of the economic turbulence caused by the COVID-19 pandemic, it accelerated the decision.

“In light of recent events, we decided to give all Revolut customers the opportunity right now to master various methods of diversification, including using cryptocurrencies.” - stated in the company.

Startup cryptocurrency department head Edward CooperHe recalled that one of the incentives for the emergence of bitcoin and other cryptocurrencies was the consequences of the financial crisis of 2008. As now, in an economic downturn, the authorities then resorted to a policy of quantitative easing, which caused the volatility of fiat currencies, he noted.

The company opened access to in-app purchases of Bitcoin, Bitcoin Cash, Ethereum, Litecoin and XRP for standard accounts in mid-March. But operations with cryptocurrencies were limited.

Recall earlier Revolut came out with hisan application for banking and operations with cryptocurrencies and stocks on the American market. This year, the startup intends to attract at least $ 500 million of investments for global expansion.