Revolut, a British fintech company, is expanding its geography. It has become known that it is entering the market of the United States.
European fintech company Revolut Ltd has announced today that it will be launching its digital banking app and more services in the United States. The company has given green light to thousands of United States customers who were in the pipeline waiting for its services to launch in the country. In order to offer better services to its customers, Revolute has partnered with Metropolitan Commercial Bank.
According to a report from TechCrunch, the U.S. customers’ deposits will be insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. However, the company will not initially offer its crypto trading functionality. The company made a strategic partnership with MasterCard and Visa back in October, hence its tremendous penetration in new market space.
Back in Europe, the company enjoys a huge reception of about 10 million customers, who actively use the neobank and the smartphone app. Since 2017, the company has been offering its customers a chance to exchange cryptocurrencies, whereby, it supports Bitcoin, XRP, Ether, Litecoin and also Bitcoin Cash. Read More...