Revolut is coming very close to your smartphone and a bunch of cryptocurrencies before the tax day. Having just raised $ 500 million at a valuation of $ 5.5 billion, Revolut is one of the largest fintech in Europe. Revolut is a Neobank – a new generation bank, operating online without the traditional physical branch network.
Revolut has been well deployed in Europe. On its roof, it allows users to buy and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and Ripple (XRP) with one of 29 fiat currencies. Revolut is expected to start offering similar services to its customers in all 50 US states.
Cointelegraph spoke to Dan Westgarth – Revolut's North American General Manager, to discuss Revolut's US launch.
Judging from the cryptocurrency landscape in the United States, Dan believes that Square is the company's biggest competitor. It's not like Square's Cash App – only supports Bitcoin (BTC), while Revolut has 4 other major cryptocurrencies on the option.
Cryptocurrencies are a major source of revenue for the company and an important driver in user acquisition.
Raising $ 500 million – investors prefer cryptocurrencies
Regarding whether Revolut investors consider exposure to cryptocurrencies to be risky, Dan replied:
“Our investors like cryptocurrencies, they don't care about risk, as long as it is well managed and we are very good at it.”
Tokens backed by assets are the future
Dan believes that asset-backed tokens have a lot of potential:
"It's easy to buy stocks or bonds, even cryptocurrencies, but for an uninformed investor, exposure to commodities is almost impossible. So if there is a token attached to diamonds or gold, that would be very attractive. "
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According to CoinTelegraph
Translated by ToiYeuBitcoin