UK-based challenger bank Revolut has onboarded eight more cryptocurrencies as the platform moves closer to becoming a super finance app.
Revolut users will now buy and sell Cosmos, New Kind of Network, Polygon, Algorand, Celo, Brand Protocol, Chainlink, and Tello. The addition brings Revolut crypto offerings to almost 30 digital currencies.
However, the exact digital assets were not named on Twitter. To retrieve the list of newly listed cryptocurrencies, users have to update the Revolut app.
So we did it, and here’s an official list:
In April, Revolut added 11 more cryptos on the platform, including Cardano, Uniswap, Synthetix, Yearn Finance, Uma, Bancor, Filecoin, Numeraire, Loopring, Orchid, and The Graph.
According to Revolut, the April addition entailed some of the hottest tokens in the market amid an ongoing cryptocurrency bull run.
Initially, Revolut’s crypto offering began with bitcoin in July 2017 before adding ethereum and litecoin.
Furthermore, Revolut focuses on crypto offering amid reports some banks in the UK are cracking down on digital currency transfers over fears of financial crimes.
Customers of banks including Barclays, Monzo, and Starling are alleging they have been blocked from transferring funds to crypto exchanges (transfers to regulated brokers that sell cryptocurrencies are still allowed).
Starling, another challenger bank, acknowledged the suspension stating that it is a temporary measure to protect consumers.
Revolut hires more staff ahead of the U.S. expansion
Revolut’s expanding crypto portfolio comes as the fintech firm plans wide-scale growth in the United States. In 2020, Revolut in a partnership with Paxos enabled users in 49 states to transact in bitcoin and ether.
Alongside other fintech firms, Revolut has witnessed massive growth inspired mainly by the coronavirus pandemic that acted as a catalyst towards digital products.
In the U.S., Revolut is on a hiring spree as the company targets to hit one million users by 2022. The firm plans to establish a base in Dallas with at least 300 hires.
“We are investing heavily in growth in the US over the course of this year. Overall, it’s one of the largest bets that we have as an organization,” said Revolut’s global head of sales Matthew Acton Davis.
The Dallas hub mainly targets Revolut’s business bank account, which is believed to have potential in the United States.