Revolut Brings Crypto Trading to US Customers Through Paxos Partnership
Revolut, a UK-based fintech startup, has launched cryptocurrency trading in the US market. This move marks an expansion of the company's services to its growing customer base in the country. Revolut partnered with Paxos to offer users in 49 states (excluding Tennessee) the ability to buy and sell Bitcoin and Ethereum directly within their app.
The platform allows customers to store their cryptocurrencies in the app and cash out instantly, without any hidden fees. The exchange rate displayed is exactly the rate at which the coins are converted. Revolut's version of storing cryptocurrency differs from traditional non-custodian wallets, as users can only send crypto to other Revolut users for now.
The company has confirmed that this limitation will be addressed in the future, with plans to allow customers to transfer their cryptocurrencies to external wallets. Additionally, Revolut offers a feature that allows users to round up their card payments to the nearest whole dollar and convert the spare change into cryptocurrency.