FinTech: Revolut Expands Its UK Crypto List, Adds 22 New Cryptos
Revolut UK’s offering now covers more than 80 tokens.
Digital challenger bank Revolut has expanded its list of tradeable crypto tokens to 82 by adding 22 new tokens including ApeCoin, Request, Sandbox, and Ethereum Classic.
“We’ve given a big boost to our offering while empowering people to take more control of their finances and giving them safe access to new tools and services being built in crypto,” said Emil Urmanshin, Crypto General Manager at the bank. (UKTN)
This is the third tranche of new tokens being added to Revolut, which is eyeing the possibility of turning into a super app. Clearly, the downturn in the crypto market has not dented those plans.
According to the bank, crypto token trading is becoming more popular with its customers. The company revealed that this year, the number of British customers buying cryptoassets grew by 6%, and the number of crypto transactions surged by 20%. The digital bank boasts of as many as 20 million customers.
Financial News quoted GlobalBlock crypto analyst Marcus Sotiriou: “Revolut is attempting to capitalise on the collapse of other crypto businesses, and therefore acquire a bigger market share,” he said.
“Building and integrating new products when it is cheaper to do so and prices are down could be forward-thinking… The companies that are putting the work in now to provide the infrastructure to onboard more users, may be the ones to reap the rewards during the next crypto upswing.”
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