According to sources, the firm plans to develop its exchange token.
Revolut, a payments service located in the United Kingdom, is working on its cryptocurrency coin.
Revolut Could launch exchange Tokens
Wirex’s WXT token, Nexo’s NEXO token, and Binance’s Binance Coin were included in the original paper as examples of exchange tokens.
This means that owning and utilizing the Revolut token while making payments will give users cryptocurrency incentives. However, the study didn’t say how much money consumers may get back for each transaction.
According to sources, the Revolut cryptocurrency will not be live until it receives clearance from the Financial Conduct Authority (FCA) in the United Kingdom, and it will first be available in Europe.
Revolut is worth $33 billion
Revolut is a money-transfer software that also lets users invest in stocks, commodities, and other assets.
It first offered crypto trading in 2017 and added support for a variety of coins. Most recently, in June of this year, it added Dogecoin to its list of supported coins.
The software initially just enabled users to store cryptocurrency and convert it to and from fiat money. In May, the firm began allowing Bitcoin withdrawals for select consumers.
With recent successful fundraisers of $800 million and $500 million, the firm is valued at $33 billion.