On Friday (December 11), digital (i.e. internet-only) bank Revolut announced that it had support for four more cryptoassets for its customers based in the European Economic Area (EEA).
The EEA is made up of the Member States of the European Union (EU) and three countries of the European Free Trade Association (EFTA) (Iceland, Liechtenstein and Norway; excluding Switzerland).
Revolut, which was founded by Nikolay Storonsky, and Vlad Yatsenko in July 2015 in London, started life as a Fintech company by offering a multi-currency pre-paid debit card managed via a mobile app. Since then, it has expanded its range of services to include cross-border money transfers at Interbank FX rates, free global ATM withdrawals, personal loans, travel insurance, and cryptocurrency trading.
In late 2017, Revolut launched a service called “Revolut Crypto” designed to provide a simple way for its customers — even those with very little previous knowledge of cryptocurrencies — to buy, hold, or sell Bitcoin (BTC), Litecoin (LTC), and Etherium (ETH) in a very simple way. Their blog post on the subject promised: “No exchanges. No private keys. No cold storage. Just tap a button and get immediate exposure to Bitcoin, Litecoin and Ether.” There was (and there still is) one serious limitation that makes this service not really suitable for “serious traders” since it does not “allow transfers to external wallets or for customers to transfer their existing crypto to the app.”
According to Revolut’s blog post, these four cryptoassets are: EOS (EOS), OMG Network (OMG), 0x (ZRX), and Tezos (XTZ).
Currently (as of 10:35 UTC on December 12), EOS, XTZ, OMG, and ZRZ are trading around $2.75 (+3.28%), $2.13 (+3.65%), $3.15 (+5.60%), and $0.382 (+9.48%) respectively.
