Unicorn Revolut is a Digital payment app, the service features the flexibility of paying in Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], Ripple [XRP] and Bitcoin Cash [BCH]. The app in its initial stage did not cover many geographical regions. The rumors of expansions finally led to a real-rapid expansion as observed on the official website of Revolut.
Revolut is planning to expand the company in the US, Canada, Singapore, Hong Kong, Australia and New Zealand in the next few months. This directs to the seamless usage of crypto-payments in the mentioned regions.
Revolut being a London-based organization was created with the goal to revolutionize the conventional banking system. It is currently growing to be one of the top financial technology platforms of the world, covering the important financial hubs.
As per the reports provided by Revolut on their official website, customers save around 8% on transactions through Revolut. It permits the users to make immediate transfers and cross-border payments. The app transacts at the interbank rate of over 120 countries and 130 currencies.
Pieter Levels, a Revolut user on their website gave feedback saying:
“Revolut gives you everything you’d expect from a bank and so much more, all without actually being one”
The app has managed to acquire over 2 million clients worldwide with a consumer capacity of 6000 users loaded on their system daily. As Revolut tweeted, they confirmed their customer base has crossed 1 million in London.
At the time of press, Revolut has completed over 125 million payment-related transactions. The total transaction volume of the app is 14 billion Euros and counting.
Revolut introduced cryptocurrencies in December 2017. This allowed users to trade cryptocurrencies in the app. As Revolut is still in its developing stages they have not yet made deposits and withdrawals a part of the platform.
Nikolay Storonsky, the founder of Revolut in an interview with Forbes said:
“I thought of the business three years ago. I was travelling a lot and wasting hundreds of pounds on foreign transaction fees and exchange rate commissions which just didn’t feel right. As someone with a financial background I knew exactly the rates I should be getting. As a solution, I tried to find a multi-currency card and was later told it wasn’t possible. But I was determined to make it work.”
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