Analysis

Mobile bank Revolut has launched in the U.S., with an eye to offering its cryptocurrency services sometime in the near future.

The London-based challenger bank announced Tuesday that U.S. customers could now register for an account and sign up for a payment card. Deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.

Launched in 2015, Revolut now has more than 10 million customers, primarily in the U.K. and Europe. As well as banking services, it offers features such as a fiat currency exchange, insurance brokerage and equity trading platform. The bank completed a $500 million Series D in February, valuing the company at more than $5 billion.

Revolut has also allowed users to purchase cryptocurrencies directly from the app since adding support for bitcoin (BTC) in 2017. Although users can trade digital assets with other Revolut users, they cannot take them out of the app.

Revolut said U.S. customers will initially only have access to the bank’s core features. Additional services, such as the crypto-buying service, will be added sometime in the near future, according to TechCrunch.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Products You May Like

Articles You May Like

New Peer to Peer Exchange Provides Africans with an Alternative to Paxful
Ethreum partners with ChainSafe and OpenRelay to prevent more 51% attacks
Chainlink Could Soon “Nuke” Lower if It Breaks Below Critical Support
Canadian Regulated Cryptocurrency Exchange Wealthsimple Begins Trading
Bitcoin Price Holds Strong Above $10,800: A Firm Case for Upside
Defi Platform Bzx Recovers Stolen $8.1 Million From Hacker

Leave a Reply

Your email address will not be published. Required fields are marked *