Opera Extends Its Crypto Wallet Services to UK

| Updated
by Steve Muchoki · 3 min read
Opera Extends Its Crypto Wallet Services to UK
Photo: Opera

Opera users in the UK can now utilize their Opera built-in crypto wallets to trade Ethereum as more digital assets will be added in the near future.

After two years of live testing its built-in crypto wallet, the Opera web browser has today begun offering its crypto services to the UK market. The Opera crypto service which has already garnered approximately 170k monthly active users since inception back in 2018, is working at decentralized internet services.

Opera users in the UK can now purchase cryptocurrency directly via bank accounts or digital banking app Revolut. The solution makes use of European Open Banking APIs to enable low-fee crypto top-ups through bank accounts or digital banking app.

According to Charles Hamel, head of the crypto at Opera, UK users can now trade on Ethereum as more digital assets await in the near future. Opera developers teamed up with crypto on-ramp provider Ramp Network to facilitate the initiative. Ramp Network supports fiat transfers from bank accounts as well as the Revolut app.

The browser has in the past introduced its wallet crypto services in different countries including the entire EU, the U.S., three Scandinavian countries, i.e., Norway, Sweden, and Denmark, Australia, New Zealand, Mexico, and Switzerland.

The company has been working together with payments firm Wyre to facilitate its services in those countries.

Opera Wallet Services Forster Crypto Adoption

Crypto adoption has seen a lot of boost from different market makers since the 2017/2018 crypto bubble.

With the company already experienced in delivering wallet crypto services to its customers, more users will get to feel comfortable using their services in the scam-dominated industry.

Bearing in mind the risks of being phished while using a hot crypto wallet, a significant number of users might remain skeptical in adopting Opera wallet services. However, other factors come into play, including the rate of commission charged and its accountability with existing users, which will largely influence its adoption.

The company utilizes Ethereum blockchain network in powering its services, which strengthens the future of Dapps. Ethereum network has stamped its power by remaining the top blockchain network to foster Dapp development, despite challenges of network scaling which are anticipated to be solved by the incoming Ethereum 2.0.

Top digital assets will continue gaining popularity and those with promising mass utility will be in a position to win the huge market. This comes ahead of a possible new wave of adoption that has been favored by different fundamentals.

Some of the favoring factors include increased institutional investors, more clear regulation from the governments, and also possibly the ongoing coronavirus pandemic that has seen people rethink ways of investing.

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