Elrond’s EGLD token has been added to the list of cryptocurrencies available on Revolut,
Having its mainnet launch in July 2020, the Elrond network has since become the second-largest proof-of-stake blockchain in the world, after Ethereum 2.0, with 3,200 validators spread across different geographies.
The protocol is also known as the first carbon-negative European blockchain as it offsets more CO2 than is required by its advanced PoS network.
Revolut – valued at $33 billion and with more than 20 million customers – is striving to increase financial inclusion by allowing its users throughout the EU and UK to buy, hold and sell cryptocurrencies with the same ease as any other digital asset, and now for EGLD as well.
With its EU banking license and the recently-granted CASP license for crypto-related services, Revolut is operating in 30+ countries (European Economic Area, USA, UK, Switzerland, etc) and has plans to expand into new markets with its regulation and compliance efforts.
“The most innovative and disruptive start-ups in the fintech field gravitate towards crypto, bringing along unique talent pools and fully engaged communities,” said Beniamin Mincu, Elrond Network CEO.
“When you add to this a vision that transcends its own product and industry, you get a game changer. Elrond is such a project. That’s why we are excited to be able to offer EGLD to Revolut’s customers and help
them realise their vision of an inclusive global financial system.”
Elrond has been designed to attempt to solve the performance limitations of current blockchain iterations like Bitcoin and Ethereum and in its current network configuration can process 15,000 transactions per second, but can scale beyond 100,000 TPS by leveraging sharding, thereby being able to accommodate growing demand by adding more shards to the network.