Revolut Launches Crypto Trading in the US
Revolut, a leading financial technology company, has announced the expansion of its cryptocurrency trading services to the United States, enabling users to convert US dollars and 27 other global currencies into digital assets. This move aligns with Revolut's strategy to diversify financial offerings amid traditional stock market volatility.
Partnering with Paxos for Secure Transactions
Revolut is collaborating with Paxos Trust Company to ensure secure, fast, and affordable crypto transactions. Paxos is a regulated exchange licensed by the New York State Department of Financial Services, ensuring users have access to reliable and high liquidity markets.
Nik Storonsky, Revolut's founder and CEO, emphasized the importance of a trustworthy partner in expanding their crypto services: “In order to expand our crypto offering to US customers, we had to find a trusted partner.”
Easy Conversion and Real-Time Notifications
Users can easily convert their US dollars and other currencies into cryptocurrencies, like Bitcoin and Ethereum, through the Revolut app. The platform provides real-time price notifications, helping users make informed decisions about when to buy or sell their assets.
An additional feature allows users to round up their card payments to the nearest dollar, automatically converting the spare change into cryptocurrency, making investing seamless and accessible.
Expanding Access to Cryptocurrencies
Revolut plans to broaden its cryptocurrency offerings. Currently, European users have access to Litecoin, Bitcoin Cash, and XRP. The company aims to expand this selection for US customers as well.
Edward Cooper, Revolut's head of crypto, highlighted the user-friendly interface of the app: “Trying to navigate traditional exchanges can be incredibly complex. With Revolut, customers can exchange their Dollars to Bitcoin and Ethereum with the tap of a button.”
Revolut also ensures transparency by displaying exchange rates upfront, eliminating hidden fees typical of traditional brokers, such as deposit and exit fees.
This strategic expansion marks a significant step for Revolut as it continues to enhance its financial services, making cryptocurrency trading more accessible and convenient for its global user base.
