The users of the English neo-bank service Revolut would be able to trade in 11 new altcoins that are added to the platform. Revolut was found in 2015 by Nikolay Storonsky and Vlad Yatsenko. The virtual bank provides its 13 million customers with money management services and has a market valuation of around $5.5 billion as of January 2021.
An email stipend was sent to the customers to guide them about the new changes. The email noted that 2021 is the year for crypto at Revolut. About the new glossary of the 11 altcoins, the email said that these are the most sought-after and profit oozing altcoins in the market at the moment. These 11 altcoins include Uniswap, Synthetix, Yearn Finance, Uma, Cardano, Bancor, Filecoin, Numeraire, Orchid, The Graph, and Loopring.
Revolut Customer Base to Grow Bigger as it is Expanding with Digital Assets
This is not the first time that Revolut customers have been granted access to digital assets. The company partnered with Paxos crypto Brokerage in 2019 to launch digital asset exchange services in the USA. At the time, the customers of the service are able to deal in 10 digital currencies, including Bitcoin Cash, Ethereum, Litecoin, Ripple, Stellar, EOS, Tezos, 0X, OMG Network, and EOS.
With the new addition of 11 more digital coins, the total number of digital assets offered on the platform has increased to 21. Today, the Revolut customers belong to more than 35 countries in the world and host more than $120 million in cryptocurrency assets. Revolut at the base is a European neo-bank; however, the users of the service in the USA can access Bitcoin, Ethereum, Litecoin, and Bitcoin Cash only.
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European Markets to Be Flooded with Cryptocurrency Trades this Year
Since the year 2019, many traditional financial services platforms have started to include cryptocurrencies in their listings. Some of these companies include Robinhood, SoFi, Webull, and many other online brokering platforms that are transitioning towards cryptocurrencies. One such platform is Revolut that partnered with Paxos to allow their customers access to digital currency trading.
The new trend in the financial services industry is transitioning to online platforms and dealing in cryptocurrencies. A new generation of brokers and financial investors are being trained to raise their stakes in digital assets and the stock market at the same time. For now, these platforms offer a limited number of digital assets; however, more are increasing their portfolio like Revolut.