© Reuters Revolut adds Shiba Inu (SHIB) and Dogecoin (DOGE) for US customers
London neobank Revolut has expanded its crypto services to the United States. This was announced on Thursday, a day after the Fed raised interest rates. Thus, the 0.75 rise sent most of the TOP 100 cryptos back into the red zone. Despite this, Revolut users in the US will be able to trade cryptocurrencies free of charge up to $200,000 per month.
#Revolut, which is one of the most widely used apps in the cryptocurrency industry and has over 20 million users, has added 29 cryptocurrencies and tokens for its customers in the United States. $SHIB & $DOGE are among the cryptocurrencies on the new list. pic.twitter.com/tONsta3CXE
— SHI₿ILIA (@SHIBAINUCRYPTON) September 21, 2022
29 cryptocurrencies included in the offer
As the United States has a high demand for crypto, it is no surprise that the innovative bank has decided to expand its crypto services in the United States. Currently, Robinhood (NASDAQ:) is the number one retail crypto app, while Coinbase (NASDAQ:) is in second place. Therefore, Revolut might challenge the above as the partnership with Apex Crypto brings a bunch of USA’s favorite cryptocurrencies including:
- (SHIB)
- (DOGE)
- (FLOOR)
- (AVAX)
- (ADA)
It should be noted that the United States was the first country in the world to integrate popular memecoins Shiba Inu (SHIB) and Dogecoin (DOGE) into the two major food delivery services – DoorDash and 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,” says Mazen Eljundi, head of crypto business at Revolut.
Staking products coming soon?
Indeed, Revolut’s innovative solutions allow any bank user to buy their favorite crypto in a fraction of a second. However, the European fintech company plans to introduce a variety of crypto-related services, including Shiba Inu (SHIB) staking. Additionally, a crypto deposit and withdrawal system is in the works. At the moment crypto withdrawal is only available in the UK and only for (BTC). Ultimately, the culmination of the expansion will be Revolut’s own cryptocurrency, a native token that can be held in a non-custodial wallet.
Hi there! Currently, crypto withdrawals are limited to BTC only and available to UK customers. We are working on extending this feature
— Revolut (@RevolutApp) August 19, 2022
on the reverse
- Some cryptocurrencies included in the US expansion have yet to be approved by the New York Department of Financial Services.
- Additionally, Revolut is still awaiting a UK banking license since early 2021.
Why You Should Care
The British fintech giant has more than 20 million customers worldwide. Moreover, it is the only major international bank focused on crypto. With over 250 million monthly transactions, Revolut’s expansion is crucial for crypto.
Read more about Revolut’s most recent expansion moves in these pieces:
Revolut receives regulatory approval to offer crypto services
Revolut partners up and launches ‘Learn to Earn’ feature
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