U.Ok. Funds App Revolut Might Launch Its Personal Token

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Revolut, a funds app firm based mostly within the U.Ok., is reportedly planning to introduce its personal cryptocurrency token.

Revolut Might Launch Trade Token

Two sources told Coindesk in the present day that Revolut plans to create a token to be used on its funds and buying and selling app.

The unique report drew comparisons to Wirex’s WXT token, Nexo’s NEXO token, and Binance’s Binance Coin, all of that are normally labeled as change tokens.

This means that customers would earn crypto rewards by holding and utilizing the Revolut token once they make funds. The report didn’t point out how a lot customers may earn again per transaction.

Sources instructed that the Revolut token is not going to launch until it features approval from the U.Ok.’s Monetary Conduct Authority (FCA) and that the token would initially be made out there in Europe.

Revolut Valued at $33 Billion

Revolut is a funds app that additionally permits customers to put money into shares, commodities, and different property.

It initially launched crypto buying and selling in 2017 and launched help for numerous tokens. Most just lately, it added Dogecoin to its listing of supported tokens in June of this 12 months.

Initially, the app solely allowed customers to carry crypto and convert it to and from fiat forex. The corporate started to permit Bitcoin withdrawals for some customers starting in Might.

The corporate is valued at $33 billion, with current profitable fundraisers that introduced in $800 million and $500 million.

Disclaimer: On the time of penning this creator held lower than $75 of Bitcoin, Ethereum, and altcoins.

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