Inclusion of Crypto Services Into Revolut Being Planned for November

Inclusion of Crypto Services Into Revolut Being Planned for November

Quick Take:

  • Revolut has decided to make cryptocurrency payments a key component of its offerings.
  • Guaranteed 1% refund on purchases for mostly British clients
  • Obtains full support from the FCA

Revolut, a British fintech business, is now putting plans in place to integrate cryptocurrency as a crucial component of its standard products and services in November 2022. Along with offering banking services, it also offers items such as foreign exchange, stock broking, the issuing of debit cards, and insurance.

Customers will be able to spend from their cryptocurrency holdings as part of the package, which is designed to draw in business from all sectors. Customers in the UK can take advantage of a 1% cashback guarantee, within a set timeframe, as long as they use Revolut-issued cards to conduct their cryptocurrency transactions.

In 2015, Nikolay Storonsky, the chief executive officer, and Vlad Yatsenko, the chief technical officer, co-founded the business. Approximately, 3,500 people work for the organization. Since the company launched nearly 30 tokens on its platform a month ago and gained approval from the Financial Conduct Authority, the United Kingdom’s body that accredits crypto organizations, this move is one of the most recent in the company’s policy objectives. It has so satisfied the prerequisites for being approved to offer services related to digital assets.