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London fintech startup Revolut is expanding and will be bringing an array of cryptocurrencies to the 50 states in the U.S., Cointelegraph reported.
Revolut offers its users access to cryptocurrencies in seconds at the touch of a button. The company understands that crypto exchanges can be time-consuming that’s why it makes the process easier. One can open an account in just minutes using a smartphone and start sending crypto with no hidden fees.
Revolut has just raised $500 million on a $5.5 billion valuation. It is considered a neobank because it offers digital financial services without physical branches.
Revolut is a well-established fintech in Europe. It allows users to buy and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and (XRP) for one of 29 fiat currencies and it will be offering the same services to Americans.
Dan Westgarth, general manager for North America sat down with Cointelegraph about its expansion in the U.S. The company’s major source of revenue is a cryptocurrency and it serves as an important driver of user acquisition.
“Our investors like crypto, they don’t mind the risk as long as it is well-managed, and we are good at it,” Westgard said about their investors.
“It’s easy to buy stocks or bonds, even cryptocurrency, but for an unsophisticated investor to gain exposure to commodities is almost impossible. So, if there was a token pegged to diamonds or gold, this could be very appealing,” he said about asset-backed tokens.
Meanwhile, blockchain security company AnChain examined crypto exchange FCoin’s insolvency. Based on its reports titled “FCoin Exchange Shutdown: Technical Difficulties or Planned Scam” there are suspicious activities before the company announced that its capital reserve fell short of its liability but only FCoin could tell the real reason it the issue was due to technical problems or it was a planned scam all along.
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