We do the research, you get the alpha!
Never mind; they're only issuing IOUs. Wouldn't want folks withdrawing to a censorship resistant wallet, after all! https://t.co/21f0sQh5cX
— Jameson Lopp (@lopp) October 21, 2020
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-2.43%Reading
British fintech app Revolut has added four additional cryptocurrencies to the platform, allowing its customers in the European Economic Area to buy EOS, OMG Network (OMG), 0x (ZRX), and Tezos (XTZ) tokens, the company announced on Thursday.
Currently, the app supports other major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple’s XRP, and Stellar Lumens (XLM)
According to Finance Magnates’ report, Revolut added these new tokens in response to high demand from its customers.
As Decrypt reported, Revolut users from the US have access only to a limited number of coins. Initially, the company launched the American version of its app in July, limiting it to Bitcoin and Ethereum. In September, the company added Bitcoin Cash and Litecoin trading for US clients.
Headquartered in London, Revolut is a “challenger bank”—like Venmo and Cash App—that’s trying to play on the same field as regular financial institutions. It attracts clients by offering a modern app and lower conversion fees as well as supporting cryptocurrencies.
British challenger bank Revolut has just expanded its cryptocurrency services to the US. The fintech startup, which launched in the US back in March, has partnered with New York-based financial infrastructure provider Paxos to make this happen. By using Paxos' recently announced plug and play brokerage service, Revolut is now also able to offer cryptocurrency trading services in the states, without having to tackle the regulatory and technological hurdles that cryptocurrency exchanges face on it...
According to the bank’s report published on August 12, it held around £2.2 billion (roughly $2.9 billion) in fiat holdings at the time.
Notably, there are a couple of limitations in Revolut’s crypto offerings—applied to both its US and EU customers. Namely, the cryptocurrencies bought via its app remain locked there, with the bank acting as their custodian. Apart from buying, customers can only transfer their crypto to other Revolut users.
Never mind; they're only issuing IOUs. Wouldn't want folks withdrawing to a censorship resistant wallet, after all! https://t.co/21f0sQh5cX
— Jameson Lopp (@lopp) October 21, 2020
This system is somewhat similar to PayPal’s. While the payments giant launched cryptocurrency trading for US users in mid-November, digital assets bought on its platform cannot be withdrawn from there to any external addresses. At least, for now.
Formula 1 has renewed its partnership with exchange platform Crypto.com, extending the agreement through 2030 as both entities seek to capitalize on their shared momentum. The renewed partnership will see Crypto.com continue to feature prominently at key Formula 1 events, including the Miami Grand Prix, where it has been the title sponsor since the race’s inception in 2022. The deal, first inked in 2021, marked Formula 1’s foray into the crypto world at a time when digital assets were experienc...
Mo Shaikh, a co-creator of the Aptos blockchain and co-founder and CEO of the Aptos Labs firm that helps support it, announced Thursday that he's leaving the company to focus on a "new chapter." "Today, I am stepping away from Aptos Labs to start a new chapter," Shaikh wrote on X. "One of my true passions lies in building companies from the ground up, and we have done that at Aptos Labs by building a world-class team." "I leave Aptos Labs with the utmost confidence in the team," he continued, "a...
Building on the momentum of anticipated changes to U.S. crypto policy, Binance.US said it aims to restore its USD services in early 2025, according to a statement shared with Decrypt. It marks the exchange's first major operational shift as regulatory pressure forced the exchange to suspend fiat trading last year. The platform has operated under restricted banking access since June 2023, when SEC civil claims triggered a suspension of dollar deposits and withdrawals. "While I can't provide a de...