Revolut, a start-up of mobile banking services, merges the traditional banking with digital currency to allow you to buy, sell and trade crypto-currencies such as Bitcoin, Litecoin and Ether. The company tries to eliminate the gap between the money the traditional and virtual currency. The CEO of the company, Nikolay Storonsky, announced at the conference Disrupt Berlin TechCrunch that the trade of crypto-currencies will open up to all users of Revolut.
If you spend money via the credit card of the Revolut, and that you have no more fiat currency, it will automatically convert the value of the crypto-currency to fiat to finance your transaction.
A project which has required a significant investment
M. Storonsky has stated that despite being one of the hottest trends of the moment, is developing in the market of crypto-currencies has necessitated an important investment. This announcement comes as the digital currency is becoming more legitimate in the eyes of the world, after the considerable rise in the price of Bitcoin.
Here are the details of this news :
Many institutional investors are preparing to accept these crypto-currencies. They will not have an important place in the activities of the start-up, but will be integrated into all bank operations within a few years, explained the CEO of Revolut. He indicated that nearly 10 000 customers have redeemed $ 1 million in crypto-currency, at the launch of this technology.
Rates very competitive at the launch of this solution
When the technology will be open to all users, Revolut promises to offer the most competitive rates on the transactions of crypto-currencies. Customers will be able to buy all the base currencies of Revolut, without having to pay additional exchange rate charges.
In two years, Revolut has registered more than 1 million users in Europe and processed 42 million transactions. Although there are a lot of actors on the market of credit cards, Revolut allows you to exchange up to $ 5,000 per month in 16 currencies without any fees.
Source : TechCrunch