Revolut announces expansion into cryptocurrency

The banking app is moving into the alternative currency market with its latest beta.

Currently only available to internal employees, Revolut is expected to launch a Beta scheme which incorporates cryptocurrency into its multicurrency platform within the next two weeks.

According to Revolut’s head of brand and communications Chad West, users can expect to be able to purchase Bitcoin, Litecoin and Ethereum during the initial release, with plans to expand to other cryptocurrencies in the future.

This is the first time a major player in the digital banking space has made moves to include the popular alternative currencies in a multicurrency wallet, and is a sign of big things to come from the banking app.

Just last week Revolut announced that it had surpassed the 1m mark in European customer sign ups since it launched less than three years ago, and is now signing up more than 3,000 users per day.

The news also follows Revolut’s recent application for a European Banking Licence, expected to be in place by early 2018, enabling them to offer credit and deposit services across Europe.

The platform is planning to expand into North America in early 2018, followed by launches in Australia, Asia and the Middle East in the near future.