Online bank Revolut allows MetaMask customers to buy cryptocurrency with fiat

The service is available in the UK and the European Economic Area

06.03.2024 - 11:50

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Last updated on Aug 5, 2024

What’s new? Online bank Revolut has launched a new Revolut Ramp product to simplify cryptocurrency purchases, developed with the team at non-custodial crypto wallet MetaMask. It will allow users to fund MetaMask wallets using Revolut accounts. The product is available in the UK and the European Economic Area (EEA).

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What else is known? To buy cryptocurrencies and top up on MetaMask, users can use fiat currency in their Revolut account or pay with Visa and Mastercard.

“This partnership is really about giving our users what they want – more control over their crypto, in a straightforward way, using platforms they already know and trust,” said Lorenzo Santos, senior product manager at Consensys (the developer behind MetaMask). That simplicity is crucial in helping to promote wider adoption of cryptocurrencies, he said.

In February, Revolut said it was looking to introduce crypto services aimed at advanced traders. The bank currently offers basic crypto services to many of its 40 million customers.

In December, the bank suspended crypto services to business customers in the UK due to new Financial Conduct Authority (FCA) rules on the promotion of cryptocurrencies. The bank was authorized to handle cryptocurrencies in the country back in September 2022.

In mid-February this year, Revolut added support for the Solana blockchain-based “dog” meme token BONK, after which its exchange rate rose by more than 15%.

MetaMask: the number of active wallet users grew by 55% in four months

The indicator grew from 19 million users in September to more than 30 million in January

In January, MetaMask introduced a service to run validator nodes on the Ethereum network on behalf of users. The feature will allow to receive rewards for participation in the network’s operation without participating in pools and launching hardware, the required deposit will be 32 ETH.

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