Revolut has added a new feature to its mobile app which allows customers to buy and exchange three major cryptocurrencies.
Customers will be able to buy bitcoin, litecoin or ethereum using any of the 25 base currencies via the Revolut app.
Revolut will apply a 1.5% mark-up during the exchange process with no hidden fees.
The feature also allows customers to securely hold their cryptocurrency within the Revolut app or transfer it to other Revolut customers instantly for free.
More than 10,000 Revolut customers signed up in just six days to test the beta version.
Nikolay Storonsky, founder and CEO at Revolut, said: “Despite being one of the hottest trends in the world right now, getting exposure to cryptocurrency has notoriously been time-consuming and expensive.
“We're going to open up cryptocurrency exposure to everyone, faster than any other platform on the market.
“By allowing our customers to seamlessly buy, hold and sell cryptocurrency, we are living up to our reputation of being a disruptive innovator in the world of finance.
“Cryptocurrency exposure has consistently been the number one requested feature from our customers and so we listened and took action.”
Lewis Tuff, chief platform engineer at Revolut, added: “To drive mass adoption of cryptocurrencies we believe the barrier to entry has to be reduced.
“With Revolut introducing cryptocurrencies into our platform, we're allowing all users to gain exposure to digital currencies in a simple, secure and seamless manner.”
Revolut recently announced that it had applied for a European banking licence.
The mobile banking platform also revealed that over 16,000 businesses had signed up to its business account in just three months.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
-
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
-
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
-
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
-
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future...
-
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
-
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
-
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
-
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
-
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
-
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
-
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...