KEY FACT: Revolut banking platform has partnered with MetaMask to simplify crypto acquisition and management through the creation of Revolut Ramp.
Revolut Partners with MetaMask. Source: Revolut
Revolut Partners with MetaMask to offer Revolut Ramp
Revolut, the popular digital banking platform, has partnered with MetaMask, a self-custodial wallet provider, to offer Revolut Ramp to its growing users. Revolut Ramp is a feature that allows users to top up their MetaMask wallets with their Revolut account, thus, making cryptocurrencies more accessible.
A press release from the digital bank states that users in the U.K. and European Economic Area (EEA), can now make crypto purchases directly into MetaMask and this intends to make adding crypto to self-custody wallets easier. This means that Revolut users can use their fiat currency balance in their Revolut account or pay for cryptocurrencies with Visa or Mastercard cards,
Revolut Ramp will simplify Crypto Acquisition and Management
This integration will help eliminate the need for users seeking to own cryptocurrencies to transfer funds across multiple platforms, thus, simplifying the process of acquiring and managing crypto assets.
Lorenzo Santos, senior product manager at Consensys, speaking on behalf MetaMask, said the partnership would open up crypto to adoption by a wider audience.
"This collaboration empowers our users with greater control over their crypto, in a user-friendly manner. It also plays a crucial role in fostering broader crypto adoption by opening up this world to a wider audience." source
Earlier, Mazen Eljundi, Global Business Head of Crypto at Revolut, said that the partnership will make buying crypto as accessible and easy as possible:
“We are delighted to launch with a leader in the web3 space, MetaMask. This service ensures high success rates for transactions done within the Revolut ecosystem and low fees for all customers. We'll offer customers the possibility to buy more than 20 tokens with their fiat currency smoothly, securely, and without obstructions.” source
Revolut Ramp can be accessed via MetaMask app, browser extension, and Portfolio platform and is designed to allow users to purchase up to 20 cryptocurrencies, including Ethereum. MetaMask has about 30 million users, thus, presenting a significant potential market for Revolut's crypto services.
This move by Revolut is on time and aligns with the growing trend of institutions embracing cryptocurrencies. Revolut now joins other leading fintech companies like Robinhood, PayPal, and Venmo in embracing cryptocurrency into its ecosystems.
What are your thoughts on this development? Is crypto close to becoming a household commodity?
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