Bitcoin-friendly Revolut app hits Australian market

The British fintech startup Revolut has announced that its Australian customers can now buy, hold, and store crypto assets using the mobile app. Users can convert fiat money into Bitcoin, Ethereum, Litecoin, Bitcoin Cash, XRP and Stellar.

G’day 🇦🇺

Starting today, our customers in Australia can buy, hold and sell #Bitcoin, #Ethereum, #Litecoin, #BitcoinCash, #Stellar and #XRP at the tap of a button 👆 pic.twitter.com/E3QLQCQrOs

— Revolut (@RevolutApp) September 3, 2020

Customers receive real-time price-change alerts and can immediately sell cryptocurrency, instantly cashing out.

“Purchasing and selling cryptocurrencies can be incredibly complex and confusing for the uninitiated. This means that many Australians do not know how to access cryptocurrency as an investment option,” said Matt Baxby, CEO of Revolut Australia.

Head of Revolut’s cryptocurrency division, Edward Cooper, said:

“By simplifying access to cryptocurrencies for all users, we are trying to do what the browser did for the Internet.”

Last year, Revolut’s losses tripled, despite growth in revenue and the customer base.

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