Revolut App Adds XRP, Bitcoin Cash to Crypto Options

Mobile banking app Revolut now lets users buy, sell and hold Ripple's XRP and bitcoin cash, in addition to bitcoin, litecoin and ether.

AccessTimeIconMay 24, 2018 at 2:35 p.m. UTC
Updated Sep 13, 2021 at 7:58 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Mobile banking app Revolut now lets users buy, sell and hold Ripple's XRP and bitcoin cash.

Following the firm's addition of litecoin and ether trading in December 2017, and bitcoin last July, the firm says in a blog post that "after months of debate and hard work," users are able to exchange any of 25 supported fiat currencies for its now five crypto offerings from today.

In the post, Revolut explained the reason for choosing XRP and BCH in particular, saying they were the "two most popular cryptocurrencies our community wanted." However, it remains open to adding more options in future if users make enough "noise."

Revolut is also allowing users to use the cryptocurrencies to top up their debit cards with crypto, saying, "We'll simply deduct the fiat value from your cryptocurrency using the real exchange rate the moment you pay with your Revolut card."

According to another blog post, for cryptocurrency purchases, Revolut charges a 1.5 percent markup on "the average exchange price," which is obtained using live prices from its partner exchanges. Further, while users can send cryptocurrency to other users using the payment option, the firm says that they may not directly transfer them in or out of the app due to "strict regulation."

The U.K.-based app provider's move to offer cryptocurrency services came about following the completion of a $66 million Series B funding round last summer. Index Ventures, an investor in crypto startups BitPay and Xapo, as well as Balderton Capital and Ribbit Capital took part in the round.

Revolut app image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.