By
Chimamanda U. Martha
April 25th, 2024
The addition of new digital assets means Revolut continues its march towards a super app status even as it warns its clients to exercise caution in trading due to the volatility of crypto prices.
Revolut, a UK-based fintech company providing alternative banking services and listing crypto assets has announced its latest decision to add more digital assets to its current crypto offerings. Now the company states that the decision is in response to the demand of customers for more tokens to be added.
The addition of these 8 tokens brings the total number of digital assets available for trading on the app to 30 cryptocurrencies and the company further states that it will continue to add more crypto assets to its platform as a way to retain its clients that have an interest in crypto trading instead of allowing them to pitch their tents with other crypto exchanges.
With More Crypto Assets Revolut to Become a Super App
The more tokens Revolut incorporates into its platform, the nearer it gets to becoming a super app. Before now, the app already provides support for the trading of such coins as BTC, ETH, XRP, EOS, Stellar, etc to mention a few. The digital services provider initiated the buying and selling of crypto on the platform in July 2017, beginning with bitcoin before adopting Ethereum and Litecoin and the other eighteen coins before this Token Tuesday.
According to the teaser released by the company on the 1st of June, the app will now support eight new digital assets comprising 5 network tokens: Cosmos (ATOM), Celo (CELO), Algorand (ALGO), Polygon (MATIC), New Kind of Network (NKN), and 3 oracle tokens: Band Protocol (BAND), ChainLink (LINK) and Tellor (TRB).
These digital assets will be available for trading in 15 different countries including (but not limited to) Belgium, Croatia, Czech Republic, Denmark, Hungary, Ireland, Italy, Latvia, Malta, Poland, Romania, Slovenia, Spain, and the United Kingdom.
In addition, incorporating these tokens means Revolut is also aligning to current trends by fintech platforms incorporating cryptocurrencies to take advantage of the market’s bullish run and the growing global community interest in crypto trading with the digital asset marketplace hitting a market capitalization of $2 trillion earlier in 2021.
Note of Caution to Crypto Enthusiasts
The digital bank has stated that it will release a series of educational content regarding crypto trading to help its customers trade safely. As is their usual practice, the release comes with a note of warning to customers to remember that digital tokens trading is risky as the prices can change very quickly without warning owing to its price volatility.
Revolut reiterates its commitment to making crypto assets accessible to all but notes that crypto trading is inappropriate for everyone since it puts the user’s capital at risk and asks its clients to consider their situations before trading crypto.