This is Revolut’s third major cryptocurrency addition since 2017 when it enabled Bitcoin purchases on its platform. According to altfi.com, the fintech’s decision to offer the new tokens in the UK makes sense considering that a tenth of Britain’s population is holding crypto.
Among the newly added tokens are Sandbox (SAND) and ApeCoin (APE). The latter was launched in March 2022 by the Bored Ape Yacht Club, creators of the ‘Bored Ape’ NFTs. Sandbox has been around since 2013, and it is currently the third largest metaverse based on the Ethereum blockchain.
As for DeFi tokens, Revolut updated its roster with payment protocol Request (REQ) and blockchain development platform Ethereum Classic (ETC).
According to company representatives cited by alfi.com, Revolut’s new cryptocurrency offerings aim to empower people to take more control of their finances while giving them safe access to new crypto-related tools and services.
The UK-based fintech has expanded its cryptocurrency services in Singapore to allow its customers to securely buy, hold and sell cryptocurrencies through the Revolut app. According to technode.global, Singaporean users will be able to access more than 80 tokens following the service upgrade.
According to the same source, the entity also plans to launch several educational courses on cryptocurrency for customers in Singapore in the following months.
This wouldn’t be the first time that Revolut launched an educational service. In July 2022, it introduced a crypto-based educational tool in collaboration with Polkadot (DOT). This partnership gives DOT users access to several courses and quizzes within the Revolut app. Upon completion, users are rewarded with DOT tokens.
Revolut’s cryptocurrency service in Singapore comes with a 2.5% transaction fee for standard customers and a 1.5% transaction fee for premium and metal users. One key feature of the exchange system is that it allows users to convert any 27 fiat currencies or gold (XAU) and silver (XAG) into cryptocurrencies. The conversion process has no foreign exchange fees as long as the transactions fall within the monthly exchange limit for each plan.
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