- Revolut and MetaMask combine their efforts to improve crypto accessibility.
- Currently, Revolut Ramp supports 20+ popular cryptos for instant buy.
- A week ago, Revolut shook hands with KuCoin to integrate Revolut Pay.
Revolut, one of the globe’s leading neobanks and a strong proponent of cryptocurrency and blockchain tech, pooled their resources along with MetaMask to bolster blockchain’s accessibility. The move comes in the form of Revolut Ramp, a new feature that will enable one-click direct purchases from a customer’s Revolut account on the MetaMask app and web extension.
The bid to make cryptocurrency more accessible to newcomers comes amid an all-around crypto service expansion, as Revolut aims to introduce an advanced in-built crypto exchange this year. Decentralized finance aficionados will now be able to top up their MetaMask wallets in a few quick steps. Revolut also recently partnered with KuCoin to add instant payments via Revolut Pay.
Huge Financial Bodies Jump on the Crypto Train
At the forefront of innovation, Revolut is deservedly one of the biggest proponents of blockchain among traditional finance institutions. Competing fintech giant PayPal has issued a stablecoin called PYUSD, pegged to the United States Dollar (USD).
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Other financial giants such as BlackRock, VanEck, and Fidelity have been constantly making the headlines this year, as the inaugural Bitcoin exchange-traded funds (ETFs) were approved on January 10, 2024, opening the world of blockchain to a much wider audience.
So far, Revolut’s status as the pioneering bank in blockchain adoption has resulted in a bumpy road for the fintech giant. After the parabolic 2021 bull rally, the fintech giant made a whopping $769M in revenue. In contrast, Revolut’s lower yearly earnings in 2022 were due to the extremely bearish year, marked by a flurry of heavy players going bankrupt during the cycle.
On the Flipside
- Revolut’s on-ramp technique for direct crypto purchases from a bank account is only available in the European Economic Area (EEA) and the United Kingdom (UK).
Why This Matters
This collaboration fosters crypto adoption and bridges the gap between traditional and decentralized finance.
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