Revolut to add Ripple to cryptocurrency offering

By Emily Nicolle on 16th February 2018

Challenger BanksCrypto and Blockchain

The banking app is planning to expand its portfolio, despite market uncertainty.

Revolut to add Ripple to cryptocurrency offering

Revolut has announced plans to add XRP, also known as Ripple, to its cryptocurrency platform. The new currency will be available alongside existing cryptos offered by Revolut, including Bitcoin, Litecoin and Ethereum.

Previous rumours had suggested that Satoshi might be the next crypto coin to be added to the banking app’s alternative currency feature.

Currently, Revolut users can exchange any of the app’s 25 base currencies into Bitcoin, Litecoin and Ether via the Revolut app. Revolut then allows users to hold their coins within the app, transfer to other Revolut users for free, or exchange into any other cryptocurrency or fiat currency at the best possible rate for a 1.5 per cent markup.

The feature was initially only available to Premium users as part of a soft launch in December 2017. As of the end of January, all Revolut users can now buy, hold and exchange cryptocurrencies on the platform.

Revolut CEO Nikolay Storonsky commented at the time: “We have been amazed by the incredible demand of our cryptocurrency feature and are delighted to begin opening it up to all Revolut users.

“Now that we have upgraded and tested our systems, we are able to cope with demand and will avoid disrupting the service for everyone else by rolling this feature out gradually, starting with our Premium customers.”

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