Coindesk Logo

Mobile Banking App Revolut Adds Litecoin, Ether Trading

Mobile Banking App Revolut Adds Litecoin, Ether Trading

Mobile Banking App Revolut Adds Litecoin, Ether Trading

Revolut's mobile app, which allows users to make payments using a debit card or bitcoin, is adding support for litecoin and ethereum.

Revolut's mobile app, which allows users to make payments using a debit card or bitcoin, is adding support for litecoin and ethereum.

Revolut's mobile app, which allows users to make payments using a debit card or bitcoin, is adding support for litecoin and ethereum.

AccessTimeIconDec 6, 2017, 2:45 PM
Updated Aug 18, 2021, 7:38 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Mobile banking startup Revolut is adding litecoin and ether trading to its app-based service.

The move to add new cryptocurrency options follows the company's integration of bitcoin support last July, having completed a $66 million Series B funding round.

Chief executive Nikolay Storonsky announced Tuesday that all customers would be able to begin trading in the new offerings on Thursday, according to TechCrunch.

Further, users' cryptocurrencies holdings will act as a backup for their Revolut debit card. Effectively, if a user runs out of fiat currency when making a payment, the app will automatically convert the appropriate amount of a digital currency to make up the shortfall.

Storonsky said the new integrations could help introduce more users to cryptocurrencies, adding that "despite being one of the hottest trends in the world right now, getting exposure to cryptocurrency has notoriously been time-consuming and expensive."

The Revolut app currently offers digital banking, as well as card payment services via Mastercard. Users will be able to use any of the 25 supported fiat currencies to purchase cryptocurrencies within the app.

Revolut is the second mobile payments company to announce expanded cryptocurrency support in the last week, with Abra launching ethereum support last Tuesday.

Speaking to investors at CoinDesk's Consensus: Invest, Abra founder Bill Barhydt said the app would support more than 50 fiat currencies along with the two cryptocurrencies.

Revolut app image via Shutterstock

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


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.