11 cryptos added to Revolut’s platform as fintech firm expands into India
More than 20 cryptos are now available to trade on Revolut's app.
Thu, 22 Apr 2021, 14:44 pm UTC
Crypto users now have more options to choose from using the Revolut app. The London-based fintech firm announced that it has added almost a dozen new cryptocurrencies to its platform. The company also announced that it plans to expand its services into India.
A total of 11 new cryptos have made their way into Revolut’s platform. This means that crypto enthusiasts can now trade in more than 20 digital currencies using its app.
“You asked for new tokens, we’ve delivered,” Revolut announced in a blog post. “We’ve been tracking hot tokens and top movers to bring our UK and EU customers 11 new cryptocurrencies.”
The new additions might not ring a bell for some crypto users who are more familiar with larger cap cryptos such as Bitcoin (BTC) and Ethereum (ETH). The new tokens available on the platform include Cardano, Uniswap, Synthetix, Yearn Finance, Uma, Bancor, Filecoin, Numeraire, Loopring, Orchid, and The Graph.
However, the banking startup warned those who are interested in giving crypto a try that there will always be risks associated with investing in the asset class. This mainly comes from volatility as crypto prices are known to sometimes wildly fluctuate throughout the day.
“As always, we want to remind you of the risks involved when buying or selling crypto, and that the prices of crypto can be very volatile,” the company said. “Your capital is at risk. While we believe in crypto accessibility for all, we also know that it might not be appropriate for everyone. Please consider your personal circumstances when buying or selling crypto.”
Meanwhile, Revolut is going full steam ahead with its international expansion plans. The fintech firm recently revealed that it is expanding into India, according to CNBC.
The London-based company said that it has tapped Paroma Chatterjee to head its India operations. Chatterjee is a former executive for a number of India-based start-ups including Flipkart, Via.com, and Lendingkart.
The fintech firm has already allocated $25 million to fund its Indian expansion, which will be invested in the next five years. Revolut expects to launch its app in the country by 2022.
Being the second-most populous country with 1.3 billion people, along with its growing acceptance for digital payments, India has the potential to become one of Revolut’s largest markets. “India is a core market in our expansion strategy with a huge supply of talent, and we’re excited to tap into that talent pool to help Revolut go from strength to strength,” Revolut CEO and co-founder Nik Storonsky said.
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