Revolut, the fintech challenger bank, has announced that it will be including the cryptocurrencies bitcoin cash and ripple (XRP) to its clients in addition to the cryptocurrencies the bank has already made available.
Revolut gave clients the possibility to trade in cryptocurrencies last December. The bank had already made litecoin, ethereum, and bitcoin, available for its clients to trade within its app.
The co-founder and chief technological officer for Revolut, Vlad Yatsenko, stated: “We’ve been asking the Revolut community which cryptocurrencies they would like to see next, and the demand for both XRP and bitcoin cash has been absolutely overwhelming.”
He added: “After months of negotiation and development work, we’re incredibly excited to offer exposure to these two digital currencies to the UK market.”
The challenger bank is based in London and is purely app-based. It was launched in 2015 by Yatsenko and Nikolay Storonsky, its chief executive. It has since attracted more than 1.7 million customers. It was also able to be the first fintech challenger bank to break even.
Last April, Revolut was able to launch a new feature to its app that is called Vaults which enabled clients to round up card transactions to the nearest whole number and convert all their spare change into cryptocurrencies. Over 50,000 of customers of evolut signed up to the said feature.
Yatsenko stated: “We launched this world-first feature in order to offer frictionless exposure of cryptocurrencies to the mainstream population.”
He further added that “the idea of exchanges, private keys and cold storage is a complete turn off for some people, so we wanted to offer a simple way for consumers to get exposure in this area.”
The LMAX Exchange also announced earlier this week that it would be offering cryptocurrency trading to its clients as the demand for the digital currencies is steadily growing.