Revolut, the digital banking platform, has unveiled a strategic collaboration with MetaMask, the self-custodial wallet, to introduce a feature known as Revolut Ramp. This offering allows users to replenish their MetaMask wallets directly from their Revolut accounts.
Visa and Mastercard Flexibility for Crypto Transactions
The integration aims to simplify the process of adding cryptocurrencies to self-custodial wallets, catering to users in the United Kingdom and the European Economic Area (EEA). According to a recent press release, Revolut Ramp empowers users to execute crypto purchases effortlessly, utilizing their fiat currency balance within their Revolut accounts. Additionally, users have the flexibility to complete transactions using Visa or Mastercard cards.
The announcement comes on the heels of Revolut's recent declaration in February, wherein the company revealed plans to introduce a cryptocurrency tailored for "advanced traders." This development, disclosed through a customer email obtained by CoinDesk, underscores Revolut's commitment to expanding its cryptocurrency services beyond the basic offerings currently available to its user base of over 40 million customers.
"This partnership is really about giving our users what they want – more control over their crypto, in a straightforward way, using platforms they already know and trust," said Lorenzo Santos, the Senior Product Manager at Consensys (the developer behind MetaMask). "It also plays a crucial role in fostering broader crypto adoption, opening up the world of crypto to more people," added Santos.
Revolut has joined forces with MetaMask to offer Revolut Ramp, a feature that will let users top up their MetaMask wallets with their Revolut account. By @ledesmalyllah.https://t.co/AtJTLKECzh
— CoinDesk (@CoinDesk) March 6, 2024
Addressing Cryptocurrency Promotion Concerns
However, amidst the ambitious strides in cryptocurrency integration, Revolut encountered regulatory hurdles in December, prompting the suspension of crypto services for its business clientele in the United Kingdom. The decision was attributed to the implementation of new regulations by theFinancial Conduct Authority, which sought to address concerns surrounding cryptocurrency promotions and compliance standards.
This article was written by Tareq Sikder at www.financemagnates.com.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments