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.
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.
Lorenzo Santos, Senior Product Manager at Consensys, Source: LinkedIn
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 extensive 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, 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,” said 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
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 the
Financial Conduct Authority (FCA), which sought to address concerns surrounding
cryptocurrency promotions and compliance standards.
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…
