Revolut is ready to launch its own token

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Fintech company Revolut intends to release its own token, writes CoinDesk, citing sources. According to them, the instrument will be more similar to an exchange token, for example BNB, than a stablecoin.

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“Revolut users will be able to earn tokens in a similar way to Wirex and Nexo,” the source said.

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Before the release of Revolut, you still need to obtain permission from the UK Financial Conduct Authority. One of the sources also said that in the initial phase, the token will be targeted at customers from Europe and other regions outside the United States.

Revolut recently announced that it will pay for rent on WeWork with Bitcoin, making it the first corporate customer to opt for this option. Like several competitors, including Robinhood and PayPal, Revolut supports buying and selling various cryptocurrencies in its app.

The service serves over 16 million customers worldwide and conducts more than 150 million transactions per month. During a conference call on financials in June, Revolut announced that cryptocurrency-related transactions account for about 20% of their revenue.

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