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November 8 2022

Revolut launched feature that enables purchases using cryptocurrencies

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Revolut has recently introduced a new ‘spend from crypto’ feature, which converts users’ crypto balance into fiat money that can be spent to pay for everyday purchases.

Read also: Starling Bank is now a top sponsor of Southampton FC Women

Pay with Crypto is a service offered by Revolut that gives users a 1% payback in cryptocurrency for purchases made using any of the almost one hundred supported tokens.

These tokens include Dogecoin, Bitcoin (BTC), and Ethereum (ETH), among others, according to a report by the Evening Standard.

Emil Urmanshin, Revolut’s Crypto General Manager, said: “This year we have not only increased the number of cryptocurrencies available in the Revolut app to close to 100 tokens and launched Crypto Learn & Earn education courses enjoyed by millions of our customers.”

“Now, we are making crypto even more mainstream, by empowering people to use crypto-enabled cards to spend their tokens for everyday purchases,” he added.

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Crypto cards are becoming the norm that is quite popular since they allow users to cash out their digital assets and spend them at thousands of card-accepting merchants worldwide.

These cards resolve one of the greatest drawbacks of cryptocurrencies, which is the inability to use them in everyday life with the same ease as traditional currencies.

The move comes shortly after Revolut received a regulatory go-ahead to launch its cryptocurrency services in the UK. As ambitious as it may sound, Revolut has also secured regulatory nods in multiple jurisdictions, including most recently in Cyprus.

It has also further expanded its cryptocurrency offering in the US with the addition of 29 new tokens.

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