The $90m-funded digital first bank is trying to erase the divide between merging traditional banking and cryptocurrency by letting its users trade and hold Bitcoin, Litecoin, and Ether alongside 25 world fiat currencies.
In just two years, Revolut has signed up over 1,000,000 users in Europe and processed 42 million transactions, and claims to have saved customers $160 million in foreign exchange fees. It’s growing fast, doubling the rate of new customer sign-ups versus three months ago. While there are plenty of players in the modernized debit card market like N26 and Monzo, Revolut also lets you send up to €5,000 per month in 16 currencies without any fee. As these startups jockey for position, they’re all searching for differentiators. Embracing cryptocurrency could lure fintech early adopters to Revolut.