Revolut Adds 29 New Tokens to Serve Clients in US
British fintech giant Revolut is deepening its foothold in the United States and has announced the addition of 29 new tokens to serve its customers.
The tokens, which include Avalanche (AVAX), Solana (SOL), and Dogecoin (DOGE), are an avenue for the company to compete for the growing market share in the country.
"Today, we’ve more than quadrupled our token portfolio to give our customers access to a much more diverse crypto offering," Revolut global business head for crypto Mazen Eljundi said in the announcement, adding that exchange services on its platform are commission-free up to $200,000 a month.
Revolut is exploring avenues to compete with its counterparts in the US, including Gemini and Kraken, amongst others. The trading firm is also mulling the plans to add more tokens to the suite should it get the needed greenlight from the New York Department of Financial Services (NYDFS).
To offer more valued added services in the long run, Revolut also hopes to launch staking services to complete its generous no-commission trading offering.
Revolut is primarily a fintech firm but is growing strategically as a crypto payments firm. Besides its ambitious push into the US, the firm announced the launch of its cryptocurrency exchange offshoot in Singapore earlier in August. The Singapore move came after the firm tapped the in-principle approval from the Monetary Authority of Singapore (MAS).
As part of its entry into new markets, education and proper awareness are crucial to the company as it looks to offer its services in a socially responsible way.
“We plan to provide educational features in the coming months to help customers better understand the trends and risks associated with cryptocurrency,” said Deepak Khanna, head of wealth and trading at Revolut Singapore, “We believe the regulatory strengths in Singapore and proactive industry engagement are key to serving clients with the highest standards.”
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Revolut Launches Cryptocurrency Exchange Services in Singapore