A four-year-old fintech startup based in London, UK, has added Ripple (XRP) and Bitcoin Cash (BCH) to its trading app. The app, known for being the first one to offer Bitcoin investment, will now include two more popular cryptos.
Revolut uses its customers’ investments to expand operations, allowing its users to buy and sell Bitcoin (BTC) in addition to already existing digital banking alternatives like currency exchange, prepaid debit card, crypto exchange, and P2P payments.
The company was founded by Nikolay Stronsky in 2015, and it is famed for its banking app that was the first ever to allow users to invest in Bitcoin. The decision to go down this path came last December and now the company will expand this feature to include BCH and XRP as well. The announcement about this development can be found on the app’s Twitter:
— Revolut (@RevolutApp) May 24, 2018
The adoption of Bitcoin Cash and Ripple
XRP and BCH have become popular cryptos lately, with Ripple holding the third, and Bitcoin Cash the fourth place on the market. They will now become the latest cryptocurrencies that the app will allow users to trade in, following in the footsteps of Bitcoin, Ethereum, and Litecoin.
The Chief Technology Officer of Revolut, Vlad Yatsenko, stated that the company asked its community which cryptos would they like to get access to via the app. According to him, the community was thrilled by the possibility of expansion, and the currencies with the biggest amount of support were XRP and BCH.
This demand was subsequently approved by the company itself, considering that these two are very popular currencies but are not yet supported by other big exchanges. Yatsenko added that it took months of development and negotiation, but the company will finally be able to bring these two cryptos to the UK market.
Revolut’s plans for the future
The company is making its name heard with these decisions, and it doesn’t plan on stopping just yet. They have already started making additional plans for expansion, and are interested in bulking up their design and engineering teams.
The plan is to expand overseas and reach the US, Canada, Hong Kong, Singapore, and even New Zealand and Australia. The company’s goal is to empower as many people as they can to take control over their finances. They will enter as many partnerships as possible to reduce the prices of cross-border transfers, which is something at which Ripple is especially good.