Revolut, the widely-used digital banking platform, has teamed up with MetaMask, a leading provider of crypto wallets, to make cryptocurrencies more accessible to its extensive user community.
With the introduction of a new feature called Revolut Ramp, users now have the ability to purchase cryptocurrencies directly from within the MetaMask app or browser extension.
This collaboration streamlines the process of acquiring and managing crypto assets, eliminating the hassle of transferring funds between different platforms.
Lorenzo Santos, senior product manager at Consensys, the company behind MetaMask, commented:
“This partnership empowers our users to have greater control over their crypto assets in a user-friendly manner. It also plays a crucial role in driving wider adoption of cryptocurrencies by making this world more accessible to a broader audience.”
With over 30 million users, MetaMask presents a significant market opportunity for Revolut to expand its crypto services.
Revolut’s move reflects a broader trend of financial institutions embracing cryptocurrencies. Major fintech players such as Robinhood, PayPal, and Venmo have recently expanded their crypto offerings, while traditional financial giants like BlackRock, Fidelity, and VanEck have launched the first spot Bitcoin exchange-traded funds (ETFs) in the U.S.
Accessible through the MetaMask app, browser extension, and Portfolio platform, Revolut Ramp allows users to purchase up to 20 cryptocurrencies, including Ethereum.
Revolut initially launched its crypto trading services in Europe back in 2017 and experienced substantial revenue growth during the bullish market of 2021, raking in $769 million in revenue. This achievement marked the company’s first profitable year. However, challenges arose in 2022 amidst the bear market, leading to reported losses in its financial results.
