Fintech giant Revolut plans on building its own cryptocurrency exchange

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Cryptocurrency exchange | iTMunch

Financial technology company Revolut has begun hiring employees for its cryptocurrency exchange. A LinkedIn post by the company confirmed that Revolut is looking for a Technical Lead for architecting its crypto exchange with its 7 years of experience in creating order matching engines.

The crypto exchange will enable new and existing customers to trade crypto as well as other digital currencies on the application.

More on Revolut’s crypto exchange app

In terms of cryptocurrencies, Revolut will allow trading of up to 20 crypto tokens which will change and allow customers to trade crypto more and the crypto exchange service.

The digital bank was facing  issues in terms of Bitcoin transfers outside its app for a while. The issue, however, was resolved earlier and now customers can also transfer their crypto onto other wallets. Moreover, the company has alo commenced building its very own Bitcoin holding (as it’s used crypto to pay for the office space in the United States after closing the deal with WeWork).

London-headquartered Revolut crypto ambitions is also supported by its interest in launching a BNB-like token. Moreover, the company also announced in September commission-free crypto trading for upto $200,000 per month, to boost financial freedom.

SEE ALSO: FinTech Brex gains ‘decacorn’ status after raising $300 million

About the fintech Revolut

Revolut is a financial technology giant founded by Nikolay Storonsky and Vlad Yatsenko. The fintech company offers myriad services via its mobile app, peer-to-peer payments, a prepaid debit card, and now, a cryptocurrency exchange. 

With more than 16 million customers and operations in over 35 countries, the company has literally been an internationally recognized financial super app. The super app boasts of over 100 million transactions month-on-month in the form of multiple services that it offers. 

Revolut aims at being the one app customers want to use for everything related to their finances; everything from daily expenses to savings to investments in multiple channels. It also wants its customers to generate more wealth from their existing personal wealth. 

Its mobile app allows customers to make ATM withdrawals in about 120 currencies. Cryptocurrencies, like Litecoin, Bitcoin, Ethereum, XRP and Bitcoin Cash, can be exchanged on the app against 25 fiat currencies. Previously, customers weren’t allowed to take the cryptocurrency out of the super app. The company has now made changes to it, leaving customers with the choice of either keeping their coins on the app or to moving them to another wallet.

Revolut’s US Chief Executive Officer, Ronald Oliveira has reportedly left the digital banking service, according to The Block. Oliveira informed Revolut staff of his departure from the company last month. 

He will be leaving his current position at Revolut within the next few months. It is unclear where he’ll be heading next. Oliveira was appointed to the role of US Chief Executive Officer back in March 2020, before the launch of its American operations, just before the world went into lockdown.

SEE ALSO: US fintech startup Tala raises $145 million for expanding crypto services

For more latest IT news and updates, keep reading iTMunch

Image Courtesy: Image by Sergei Tokmakov Terms.Law from Pixabay

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Riddhi Jain is a technology content writer. She is based in India and has been working as a content writer since 2018. Riddhi has been writing content in the tech domain since May 2020 and can’t get enough of it. Riddhi has pursued most of her education from her hometown, Indore. She has graduated as a Bachelor of Business Administration and discovered her love for writing blogs while pursuing an internship during college. Once she discovered her love for writing, she went on to improve this skill set (and hasn’t stopped since). Riddhi’s writing relationship with iTMunch began in May 2020. This is where she developed a knack for writing content for the technology domain. She's an expert in tech content writing who has written over 700 blogs for iTMunch in just a year. Riddhi loves diving deep into tech sub-domains like financial technology, marketing technology, HR technology, Artificial Intelligence and gaming technology. She loves staying updated with the latest and upcoming trends in digital marketing, digital payments, fintech, gaming, web design and app development. She cherishes writing about futuristic technologies like blockchain and cryptocurrency, NFTs, Internet of Things, Facial Recognition, Machine Learning, Edge Computing, etc. Riddhi also likes to keep an eye on what’s going on with the tech titans like Google, Facebook and Apple. One of her major interests is in staying updated with the latest IT startups and the groundbreaking technologies they’re coming up with. When Riddhi is not writing content, she is binging on documentaries on Netflix (check out ‘The Great Hack’, ‘Seaspiracy’, and ‘What the Health’). She also likes reading books once in a while (Yuval Noah Harari and Michelle Magorian are some of her favorite authors). Riddhi also likes listening to podcasts like The Tim Ferriss Show (do listen to the ones with guest Naval Ravikant) and The Joe Rogan Experience.