Revolut app now supports cryptocurrency

Revolut app now supports cryptocurrency

European application Revolut announced that starting this week, users will be able to make transactions using the cryptocurrency, along with 25 world currencies. The company said at the conference TechCrunch Disrupt in Berlin.

CEO Revolut Nicholas Stronski said:

“The introduction of the possibility of cryptocurrency transactions was the number one request from our customers, so we took action.”

Currently, the Revolut app offers digital banking and payments via Mastercard. Since the founding in 2015, the service Revolut created more than a million people in Europe, which made about 42 million transactions. This popularity of the app will allow you to increase the number of potential users of the cryptocurrency.

Using the payment service to make purchases without having to make additional transactions and bill you for currency conversion.

At the initial stage supports bitcoin, Litecoin and Ether.

Cryptocurrencies will also act as a reserve for debit cards Revolut. Users of the Bank will be able to access their digital wallets with tokens that will be automatically debited from the account during shopping. That is, if the user is not enough Fiat money, the app automatically converts the appropriate amount of cryptocurrency to pay the difference.

Many analysts believe that this transition could weaken the concept of the app. However, Nicholas Storonsky believes that cryptocurrency will be fully integrated, and quick and easy using this method will allow you to meet many new cryptocurrency users.

The CEO of the startup said:

“Although this is one of the hottest topics in the world, familiarity with the cryptocurrency still remains an expensive exercise that takes a lot of time.”

Following the example of the Revolut, some companies also are considering changes and the introduction of cryptocurrencies as a payment method in their platform.

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