Crypto-Friendly Bank, Revolut Launches in the U.S with aim to enable Digital Currency Transactions

A London based financial provider, Revolut launched its services in the U.S., with a goal to offer transactions in cryptocurrencies in the near future.

This mobile bank announced in a statement that the U.S. citizens could no open a bank account and sign up for a debit card, as per a report from TechCrunch. Furthermore, according to Federal Deposit Insurance Corporation, up to $250,000 of deposits are allowed for the U.S. nationals.

This revolutionary payment services provider, already allowed its users in Europe and the U.K. to buy digital currencies directly from its official app since 2017. Moreover, it also enables its users to transfer or trades the digital assets with another user of the same applications. The banking solutions provider, Revolut launched back in 2015. It has gained a huge base of 10 million customers in European countries, including the U.K., in a few years. Due to its attractive services, the company has grown exponentially, and currently, its worth is more than $5 Billion.

Although the U.S. has been regularized the trading in cryptocurrencies to some extent, a major population is still untapped. The launch of this bank with a vision to include the feature of transaction in crypto through its traditional banking app would connect more people with the crypto sphere. It has said that currently, the U.S. customers will have the features of conventional banks such as deposit, a transaction in equity, and insurance. However, it has the option to buy crypto will be included in its core services in the near future.