Bitcoin Cash And XRP Added By UK Mobile Banking App Revolut

Announcements, News | May 25, 2018 By:

UK FinTech firm Revolut has added Bitcoin Cash (BCH) and Ripple’s XRP to its cryptocurrency trading app.

Revolut is a digital banking alternative that includes a pre-paid debit card (MasterCard), currency exchange, and peer-to-peer payments. The company currently supports spending and ATM withdrawals in 120 currencies and sending in 25 currencies directly from its mobile app. It allows customers to change fiat currency into crypto and trade their existing cryptocurrencies for others.

Revolut said the decision to include Bitcoin Cash and XRP, in addition to bitcoin, Litecoin and ethereum, was made because they were the “two most popular cryptocurrencies our community wanted” and other major crypto exchanges have yet to support them.

“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,” said Vlad Yatsenko, Revolut chief technology officer.

Users can now buy, hold, and exchange these cryptocurrencies in any of the 25 fiat currencies supported by the app. The company charges a 1.5 percent markup on “the average exchange price,” which is obtained using live prices from its partner exchanges.

Last month, Revolut announced that it raised $250 million in its Series C investment round, which gives the company a $1.7 billion post-money valuation. The funding will be used to hire engineers and designers, to launch new features, and to scale the company in the United States, Canada, Singapore, Hong Kong, Australia and New Zealand this year.