Due to the increasing demand for the Ripple Coin, Revolut has added XRP support to its platform with the pleasure to meet the customer demand in the community.
Revolut has made it possible for investors to buy and sell cryptocurrencies by linking their bank details to their Revolut account. Virtual currencies can be exchanged for a wide range of fiat currencies worldwide by the users of the platform.
The platform will allow for payment to be settled within 24 hours as regarding the app’s specifications. Also, the processing fee will be seen by the users with each transaction upfront; there will be no financial intermediaries who are known to charge extremely high transfer fees on every transaction.
Bridging the gap between banking and traditional financial institutions with cryptocurrencies is what Revolut aims to achieve. As people show more interest in virtual currencies, the demand for a more comfortable mode of entering the market and also purchasing various digital coins is needed.
With the company, buying cryptocurrencies comes very easy since there are no fees like subscription charges, exit fee, or deposit charges. Moreso, users are to make payment as low as 1.5% markup on the average exchange price.
Investors and lovers of Ripple will have access to purchase the famous virtual currencies on the Revolut app. Before the end of April, the company will be supporting Ripple.
Revolut service is not for virtual currencies alone, their interest is to enable customers to make transactions at interbank exchange rates across the globe; the company also would allow users to send and receive international money transaction easily.
There is a tremendous difference between other financial institutions using Ripple from Revolut. With Ripple, banks and other financial institutions can send and receive money in a fast, cheap and easy mode, unlike other traditional banking operations. For instance, Santander Group is using Ripples xcurrentto power blockchain based app known as “Onepay” FX.
Presently, the Ripple is ranked 3rd among other cryptocurrencies by market capitalisation which stands at $39.1 billion. Ripple is currently priced at $0.80.
United Kingdom commends and celebrates Revolut despite been a startup as the fastest, growing fintech following series of turn around it’s receiving presently.
Santander CEO, Ana Botin spoke about the launch of the app, in a statement she said that it would focus on the South American and European customer base mentioning countries like Brazil, Spain, the United Kingdom, and Poland.