Revolut, the global fintech with more than 40 million customers globally, is making the latest solution in its crypto portfolio available to customers in the UK and the European Economic Area (EEA), including Romania, Revolut Ramp. This is the result of the collaboration with one of the most famous crypto wallets internationally, MetaMask.
With this new solution integrated between the services offered to customers interested in cryptocurrencies, Revolut, which processes transactions worth millions of euros every day, makes the integration of web3 products even easier. Using this functionality, customers will be able to buy more than 20 tokens including ETH, USDC, USDT, SHIB, 1INCH, and others at competitive costs from both the mobile app and the web platform.
Revolut Ramp allows customers to buy cryptocurrencies with fiat funds held in their Revolut accounts and store them in the MetaMask decentralized wallet. Customers can use their funds from their Revolut accounts in 19 currencies and pay with their Visa or Mastercard bank cards.
Also, Revolut users will no longer need additional verifications when making a payment, as they will be able to access their account based on the usual authentication filters available in the app, in just a few seconds. Also, the checkout process is very fast. If users pay directly from their Revolut account, the transaction takes place entirely within the Revolut ecosystem, eliminating additional costs and increasing the transaction success rate.
Revolut Ramp also offers an integrated Know Your Customer (KYC) process that new customers can go through in just minutes. The process uses the same infrastructure used to authenticate millions of Revolut customers.
“We are happy to announce this new product dedicated to crypto customers, Revolut Ramp, a leading solution in the web3 ecosystem. The feature we added has a high success rate for cryptocurrency purchases made with funds in Revolut accounts and comes with a great price for customers.
Also, partnering with a leading web3 partner, MetaMask, is a source of pride for us. Together we will give customers the opportunity to buy more than 20 cryptocurrencies with their Revolut account balance. All through a simplified process, without unnecessary actions, in a secure environment," said Mazen Eljundi, Global Business Head of Crypto at Revolut.
"Through this partnership with Revolut, we are making cryptocurrency trading more accessible and easier to do. This partnership is about giving our users what they want – more control over their crypto assets, in a simple way, using platforms they already know and trust. Also, through this partnership, we make cryptocurrency adoption easier to achieve and open access to crypto to as many consumers as possible," said Lorenzo Santos, Senior Product Manager at Consensys.
How does the process work? When a MetaMask user selects the "Buy" option in their MetaMask wallet, Revolut will be listed as the top provider under Debit or Credit payment methods. Once a user chooses the Revolut option, they will be redirected to Revolut's payment flow where they can use their balance to buy cryptocurrencies in the MetaMask wallet, either directly by direct transfer from their account or using their Mastercard or Visa card.
MetaMask is the partner with whom Revolut is introducing this new product, and other similar providers from the web space will be integrated in the near future3.
As part of the goal to be the safest place to trade, use and learn about crypto, Revolut regularly communicates to customers that crypto tokens are volatile assets and prices can change quickly. Revolut believes in expanding access to cryptocurrencies and also cautions that they may not be right for everyone.
It is necessary for users to educate themselves about the various cryptocurrencies and know the risks and opportunities before buying or selling. Customers should independently research and learn the differences between tokens, as well as consider their personal circumstances when buying or selling crypto. Cryptocurrencies are not regulated and funds are not protected by investor compensation schemes. Earnings may be taxed.
