Revolut is advancing deeper into the cryptocurrency markets by adding support for XRP and Bitcoin Cash within its popular mobile app.
The new virtual currencies join bitcoin, litecoin and ethereum, which were made available for customers to conduct in-app exchanges for fiat in December.
The addition of XRP and Bitcoin Cash follows surging demand for the Ripple-backed coin and bitcoin spin-off as investors seek to diversify their holdings and spot the next big earner. Revolut reckons the new facility will help it to steal a march on traditional crypto exchange like Coinbase, which continue to shy away from the newer market entrants.
Vlad Yatsenko, co-founder & CTO of Revolut says: “We’ve been asking the Revolut community which cryptocurrencies they would like to see next, and the demand for both XRP and Bitcoin Cash has been absolutely overwhelming. After months of negotiations and development work, we’re incredibly excited to offer exposure to these two digital currencies to the UK market.”
Revolut claims it is currently conducting 100,000 cryptocurrency transactions per day, for which it charges a 1.5% exchange fee.
Last week, the company also launched a new savings feature called Vaults, which allows customer to round up their card payments to the nearest whole number and save up their spare change in cryptocurrencies. Revolut says more than 50,000 of its 1.8 million customers have signed up for a Vault since launch.