Brand new British startup, ‘Revolut’ are a digital banking firm with aspirations to enter the cryptomarkets as a competitive exchange platform.
Recently, Revolut have announced that they have raised an incredible $250Million in a round of funding that has pumped the value of the company right up to around $1.7Billion
Revolut Crypto, is the name of the exchange side of the company. The exchange currently hosts Bitcoin, Litecoin and Ethereum transactions, their latest move however will see crypto-powerhouses, Ripple and Bitcoin Cash added to the network.
According to RTT News:
“The latest Series C investment round was led by Hong-Kong based DST Global, an early investor in Facebook and Spotify, and made Revolut one of the fastest companies in Europe to reach unicorn status. Existing investors Index Ventures and Ribbit Capital also participated in the new funding. Revolut is now backed by a portfolio of investors who helped nurture and grow the likes of Airbnb and Spotify.”
This is the start of something far bigger for Revolut, who are now turning to international shores to further expand their business. Their ultimate goal is to become an international firm, giving regular people the chance to take control of their own finances, in turn, reducing the cost of international payment transfers. They aim to “partner with the best players in the financial world”.
Revoluts other services include a real-life debit card which facilitates payments in 150 currencies across a live exchange rate, meaning thrifty customers can use the card to make payments in currencies that offer a premium value of money. Future integration with the Revolut Crypto project, could see their supported currencies, including Ripple and Bitcoin Cash, play a huge role in this already well established debit card system.
Future development is not being targeted within the United States, Canada, Singapore, Hong Kong, Australia and New Zealand, with further expansion in the pipeline once these moves have been established.
According to RTT News:
“Further, Revolut Wealth’s services will be expended to allow users to invest their funds into stocks, indexes and exchange traded funds or ETFs, alongside a variety of other financial instruments.”
This is clearly a company are the fore of the blockchain revolution within the UK and, eventually, the rest of the world. Whilst the listings of Ripple and Bitcoin Cash may not provide either currency a fantastic leap in value, they are providing Revolut Crypto a huge service. Likewise, Revolut Crypto are improving the transparency of their system and of course, are giving their customers access to the most cutting edge technology available.
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