Categories: CryptoNews

Revolut Lets Users Invest in XRP and Bitcoin Cash

Financial institutions continue to pay a lot of attention to cryptocurrencies. Revolut is one of the more forward-thinking firms in this regard, as the banking app is integrating investment support for both XRP and Bitcoin Cash, both of which make a lot of sense. Whether or not these offerings will be of great interest to community members is a different matter altogether.

Revolut Takes a big Gamble

In the world of finance, cryptocurrencies are slowly making their mark. While it will likely be a while until banks incorporate the likes of Bitcoin and Ethereum into their regular products, interest in these investment vehicles is certainly on the rise. Many institutions are looking into ways to expose customers to cryptocurrency in one way or another.

Revolut, a UK-based challenger bank app, is taking a completely different approach in this regard. The company is keen on cryptocurrency, and it is not necessarily hindered by all of the associated red tape. Providing exposure to cryptocurrencies is still remarkable, given the volatile nature of this industry.

By adding both XRP and Bitcoin Cash to its list of supported currencies, Revolut now lets its users invest in all of the major cryptocurrencies through traditional means. Thanks to its ongoing partnership with Bitstamp, adding support for these altcoins was rather straightforward. Earlier on, the company added Bitcoin, Ethereum, and Litecoin support. 

Related Post

One thing to keep in mind is that Revolut doesn’t allow users to send or receive cryptocurrencies. There are no wallet addresses involved either, as the company maintains full custody of one’s holdings. Users can buy tokens and sell them in exchange for fiat currencies, but that is all the functionality that the platform offers in its current state.

Nevertheless, for those users who are not looking at cryptocurrency in any serious capacity, this solution will be more than sufficient to keep them engaged. Combined with Revolut’s new Vaults service, there are now a fair few options to be explored.

In the end, it is good to see more financial firms paying attention to various cryptocurrencies. After all, there is a lot more to cryptocurrency than just Bitcoin, even though all other currencies are linked to the top dog in every way. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Ripple’s RLUSD Goes Live in Türkiye, Hits $1.7 Billion Market Cap

Ripple is not pausing for breath. The company has brought its dollar-pegged stablecoin, $RLUSD, to…

2 hours ago

Bitwise Launches Its First Tokenized Fund With $259M in Assets and 4% Annual Yield

Bitwise Asset Management has just made its first move into tokenized funds, and it comes…

23 hours ago

Binance Launches US Stocks and ETFs Trading for Non-US Users With Zero Commission

Binance just made a move that blurs the line between crypto exchange and traditional brokerage…

1 day ago

NEAR Protocol Ships Confidential Payments, Crosses $19B in Intents Volume, and Partners With Bermuda Government

NEAR Protocol has had a month that most blockchain projects would stretch across an entire…

2 days ago

Chainlink Records 7 New Integrations Across 6 Services and 4 Chains

Something is becoming increasingly clear about Chainlink, the integrations are not slowing down. The protocol…

2 days ago

Circle Freezes $12.6 Million in Zama’s Confidential USDC Contract on Ethereum

Blockchain investigator ZachXBT has flagged a major stablecoin freeze that is sending shockwaves through the…

3 days ago