Alternative banking platform Revolut, which provides the ability to trade cryptocurrencies, is preparing to launch its own token.
Two sources familiar with the situation in Revolut immediately informed Coindesk about the plans to launch the token. According to one of them, the new token will be more similar to the tokens of cryptocurrency exchanges, for example, BNB of the Binance exchange. That is, we are not talking about launching a stablecoin, which would be more logical for a “digital bank”.
“This will be a program for earning tokens for Revolut users, something like the programs run by Wirex and Nexo,” the source quotes the publication.
At the moment, Revolut management is awaiting the approval of the British regulator. At the same time, the second source reports that the Revolut token will be available not only in the UK, but also for users from other European countries. Currently, the number of users of the Revolut platform exceeds 16 million people.
Late last year, it was reported that Revolut would work with digital asset security firm Fireblocks to develop new cryptocurrency products.