Revolut adds XRP and bitcoin cash to its crypto selection

Torjus Roberg
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Vlad Yatsenko (left) and Nikolay Storonsky (right) started Revolut in 2015 (Source: Revolut)

The fintech challenger bank Revolut has announced that it will be introducing the cryptocurrencies XRP and bitcoin cash to its clients in addition to the cryptocurrencies it has already made available.

Revolut, which gave clients the possibility to trade in cryptocurrencies in December last year, had already made bitcoin, litecoin and ethereum available for its clients to trade within the app.

Vlad Yatsenko, co-founder and chief technological officer for Revolut, said: “We've been asking the Revolut community which cryptocurrencies they would like to see next, and the demand for both XRP and bitcoin cash has been absolutely overwhelming.”

Read more: Revolut smashes into unicorn ranks with $250m fundraising

“After months of negotiation and development work, we're incredibly excited to offer exposure to these two digital currencies to the UK market.”

The London-based challenger bank is purely app-based and was launched in 2015 by Yatsenko and chief executive Nikolay Storonsky and has since attracted over 1.7m customers. It was also the first fintech challenger bank to break even.

Last month, Revolut introduced a new feature to its app called Vaults which allowed clients to round up their card transactions to the nearest whole number and convert all their spare change into cryptocurrencies. More than 50,000 of Revolut's customers signed up to the feature.

Yatsenko said: “We launched this world-first feature in order to offer frictionless exposure of cryptocurrencies to the mainstream population.”

“The idea of exchanges, private keys and cold storage is a complete turn off for some people, so we wanted to offer a simple way for consumers to get exposure in this area,” he continued.

Earlier this week, the LMAX Exchange also announced that it would be offering cryptocurrency trading to its clients as demand for the digital currencies is steadily increasing.

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