Revolut Expands Cryptocurrency Trading Services to US Customers – FF News

As of this Wednesday, Revolut has made headlines by launching its crypto trading platform in the United States.

In response to April’s stock market fluctuations, Revolut has introduced the in-app purchasing feature for a range of cryptocurrencies, offering users additional financial instruments.

Also of interest: Confidential communications from CEO Nikolay Storonsky shed light on Revolut’s layoff controversies

With the exception of Tennessee residents, all U.S. customers now have access to Revolut’s U.S. cryptocurrency exchange services, powered by a collaboration with Paxos Trust Company, guaranteeing ample liquidity, competitive rates, and swift transaction processes.

“Licensed by New York State Department of Financial Services, Paxos stands as a reputable, safe, and certified exchange for virtual currency operations,” Revolut stated.

“Securing a reliable partner was essential to bring our cryptocurrency services to the U.S. market,” mentioned Nik Storonsky, the founder and CEO of Revolut.

The app’s user-friendly interface allows customers to swiftly change US dollars and 27 other currencies into cryptocurrencies, while keeping them informed with immediate price change notifications and simplifying the cash-out process.

Adding convenience, Revolut also offers a feature to round up card expenditures to the nearest dollar, directly funneling the excess change into the user’s choice of cryptocurrency.

Further expansion into the cryptocurrency market is projected by Revolut, aiming to match its European counterpart where clients can trade in Litecoin, Bitcoin Cash, and XRP.

“Entering the cryptocurrency space can often be overwhelming due to the complexity of traditional exchanges. Our goal is to simplify this entry for our customers,” explains Edward Cooper, head of crypto at Revolut.

“Hidden fees such as deposit and exit expenses are common among standard crypto brokers. Revolut is challenging this norm by ensuring full transparency on the exchange rate at the point of transaction, with a pledge to eliminate concealed charges,” Cooper adds.

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