Revolut, a United Kingdom based global banking alternative has revealed it will be adding Ripple (XRP) any moment. This is coming after it added Bitcoin, Ethereum and Litecoin to its financial transaction app. Using the normal Revolut account, crypto enthusiasts have the opportunity to purchase cryptocurrencies by just connecting their UK bank accounts to the protocol.
At the same time, through the platform, users are privileged to convert crypto to any fiat currency they wish without any form of hindrance.
With Revolut, buying cryptocurrency comes easy since there is no hidden fees like deposit charges, subscription charges, exit fees. However users are to pay a low-cost 1.5% markup on the average exchange price.
When Revolut tweeted it will be adding Ripple soon, many a number of crypto lovers praise the move demanding that the startup speedily achieve. Supporting Ripple is a long-awaited development due to unstopping customers’ request that the startup is receiving about the coin. A partnership with Ripple will boost Revolut in the UK since it is a fintech startup.
Despite been a startup, Revolut is celebrated as one of UK’s fastest growing fintech owing to series of turn around it is receiving in recent time. The company, according to analyst has quintupled in size after going through a financial round that was led by DST.
The international payment startup has revealed it is planning to expand to far United State to give customers the advantage to transact crypto in that region.
Talking about Ripple, the cryptocurrency company is doing everything to move ahead and become the number one digital coin like bitcoin. Ripple over the years has partnered with different banks and fintechs. It has some certain irresistible tools that are kings in cross border remittance.
The financial firm recently invested in ideas that can create growth in its ecosystem. Ripple is coasting different industries. The team behind Ripple are eyeing international banks, or possibly become the bank of banks.
Despite been a decentralized network, Ripple believes so much in regulation. The CEO, Brad Garlinghouse says “Regulators are behaving as they should to make sure we have regulation around KYL and AML. There are reasons for that. If exchanges are trying to circumvent KYC requirements, [regulators] should come in and enforce that.”