Fintech giant Revolut is expanding its cryptocurrency system with SHIB and 28 altcoins for its customers in the USA.
SHIB, DOGE, SOL, and AVAX are now listed by Revolut USA
The London-based crypto service provider is in intense competition with Coinbase and Robinhood for market share. It is now increasing the range of cryptocurrencies it offers to its customers in the US, according to a new announcement. In this way, the company will take its competition with crypto money giants to the next level.
According to a statement released today, Revolut is now offering its US users 29 new tokens, including Dogecoin, SOL, AVAX and SHIB. The bank is expanding its offering through a new partnership with crypto service provider Apex Crypto.
Users will be able to trade up to $200,000 commission-free each month
Mazen Eljundi, Revolut’s head of global business for crypto, said in the announcement;
Today we have more than quadrupled our token portfolio to give our customers access to a much more diverse crypto offering. Transactions up to $200,000 per month are commission-free.
According to the statement, the New York financial services department has not yet approved all the tokens.
Staking services
cryptocoin.comAs you follow, Revolut partnered with Paxos for US operations before early August. He stated that through the partnership, it will soon enable it to offer new functions such as depositing, withdrawing and staking more cryptocurrencies.
These features are part of the European fintech giant’s larger push towards cryptocurrencies. The firm was valued at over $33 billion last year. The company’s founder, Nik Storonsky, stated last year that he plans to introduce a custody-free wallet with his own token.
However, the business still has to contend with some regulatory challenges in its home country of England. It has not yet received a perpetual license to do business as a cryptocurrency firm in the UK. However, it is the only name in the provisional entry on the UK financial authority’s list for such firms. Despite applying in January 2021, it has yet to achieve its longstanding goal of obtaining a banking license in the UK.
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