The British fintech startup has enabled users to buy digital assets to diversify risks against the backdrop of the economic crisis. Previously, only premium account owners had this option.
The British fintech startup Revolut provided the opportunity to buy and sell cryptocurrencies to all users, as reported on the official newsletter. Previously, this option was available only for Premium and Metal class customers. A commission of 1.5% per transaction will be charged for transactions with digital money.
Startup representatives noted that the reason for this decision was the economic crisis caused by the coronavirus pandemic. Clients should be able to diversify their investments in conditions of “unprecedented economic turbulence” and because of the risk of currency devaluation, the company explained.
“We intended to make an formal declaration down the road this calendar year. But in the light of recent events, we decided to give all Revolut customers the opportunity to explore various ways of diversification, including using cryptocurrencies, right now” – Revolut reported.
In September, Revolut announced plans to enter eight new markets, including Russia, by the end of last year. However, this did not happen; now the company does not provide services in the territory of the Russian Federation.
In late March, it became known that the largest bank in South Korea, KB Kookmin, has applied for the launch of a custodial service for storing cryptocurrencies, primarily Bitcoin and Ethereum. The patent also includes trading in crypto assets and providing advice on investing in them.