© Reuters Revolut adds Shiba Inu (SHIB) & Dogecoin (DOGE) for US customers
London-based neobank Revolut has expanded its crypto services to the United States. This was announced on Thursday, a day after the Fed hiked interest rates. Thus, the 0.75 hike sent most of the TOP 100 cryptos back into the red zone. Despite this, Revolut users in the US can trade cryptocurrency clients up to $200,000 per month for free.
#Revolut, one of the most used applications in the cryptocurrency industry and with more than 20 million users, has added 29 cryptocurrencies and tokens for its US customers. $SHIB & $DOGE are among the cryptocurrencies in the new listing. pic.twitter.com/tONsta3CXE
— SHI₿ILIA (@SHIBAINUCRYPTON) September 21, 2022
29 cryptocurrencies included in the deal
With the United States experiencing high demand for crypto, it comes as no surprise that the innovative bank has decided to expand its crypto services to the US. Right now, Robinhood (NASDAQ:) is the number one retail crypto app, while Coinbase (NASDAQ:) ranks second. As such, Revolut could pose a challenge to the above challenges as the partnership with Apex Crypto brings with it a number of America’s most popular cryptocurrencies including:
It is worth noting that the United States was the first country in the world to include the popular Shiba Inu (SHIB) & Dogecoin (DOGE) memecoins in the top two grocery delivery services – DoorDash & Uber (NYSE:) Eats US. “Today we have more than quadrupled our token portfolio to give our customers access to a much more diverse crypto offering,” explains Mazen Eljundi, Head of Crypto Business at Revolut.
Staking products coming soon?
In fact, Revolut’s innovative solutions allow any user of the bank to buy their favorite crypto in a split second. However, the European fintech firm plans to launch a variety of crypto-related services, including Shiba Inu (SHIB) staking. In addition, a system for depositing and withdrawing crypto is in the works. At the moment, crypto withdrawal is only available in the UK and only for (BTC). Ultimately, the pinnacle of the expansion will be Revolut’s own cryptocurrency, a native token that can be stored in a non-custodial wallet.
Hi! Currently, crypto withdrawals are limited to BTC only and are available for UK customers. We are working on expanding this feature
— Revolut (@RevolutApp) August 19, 2022
On the flip side
- Some cryptocurrencies included in the US extension have yet to be approved by the New York Treasury Department.
- Also, as of early 2021, Revolut still has a UK banking license.
Why you should care
The British fintech giant has over 20 million customers worldwide. Additionally, it is the only major international bank focused on crypto. With over 250 million monthly transactions, Revolut’s expansion is crucial for crypto.
Check out these articles to learn more about Revolut’s latest expansion moves:
Revolut receives regulatory approval to offer crypto services
Revolut partners with and introduces Learn to Earn feature
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