By
Temitope Olatunji
May 7th, 2024
EGLD is the native token of Elrond, and will now be available to over 20 million customers across over 30 countries through the latest partnership.
Elrond, a scalable blockchain platform for distributed apps, has announced a partnership with UK-based fintech company Revolut which will see the fintech company add EGLD to its banking app.
EGLD is the native token of Elrond, and will now be available to over 20 million customers across over 30 countries through the latest partnership.
Elrond, in the announcement, lauded the latest partnership, stating that the constant regulatory compliance of Revolut has propelled it to the fastest growing technology company in Europe, giving it its $33 billion valuation.
Revolut has also acquired important e-money, banking, and cryptocurrency licenses, which has aided in their accelerated expansion into new markets.
Revolut’s listing of EGLD will also introduce a wider target of digital natives to the seamless payments at the core of Elrond’s vision, giving customers access to a token that powers and facilitates the frictionless transfer of any type of value accessible to anyone, across the globe.
“The most innovative and disruptive startups in the fintech field gravitate towards crypto, bringing along unique talent pools and fully engaged communities. 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 accomplish their vision of an inclusive global financial system,” Beniamin Mincu, the CEO of Elrond Network, stated.
Situated at the nexus of traditional and Web3 financial infrastructures, Revolut currently offers its services to over 20 million consumers in 36 countries. With this wider audience, the company can attract new investors and establish itself as the go-to place for anyone looking to buy and sell digital assets.
Since it was launched in 2015, Revolut has expanded beyond its origins as an FX product, adding new products and services, including salary advances, instant peer-to-peer payments, budgeting controls, and FDIC insurance.
The company is headquartered in London and currently employs 5,000 people working from 23 offices. Revolut, since 2015, has raised over $800 million in funding and facilitated over 1 billion transactions worth in excess of $130 billion.
Elrond is an internet-scale blockchain, designed to bring a 1000-fold cumulative improvement in throughput and execution speed. The Blockchain is equipped with a novel Adaptive State Sharding mechanism and a Secure Proof of Stake (PoS) algorithm, which enables linear scalability with a fast, efficient, and secure consensus mechanism.