Revolut to develop a crypto wallet and add staking

Revolut, as part of its strategy to become a superapp, is developing a crypto wallet and related functionality. CEO Nik Storonsky told Reuters.

“…decentralized wallets and the ability to withdraw/transfer cryptocurrency […] staking, lending — this is what we lack and we are working on,” he said.

To move toward universal financial-services provider status in the foreseeable future, Revolut will also launch a BNPL product and expand capabilities for fee-free and instant cross-border transfers. In the future, mortgage lending could appear, the CEO said.

Back in October 2021, Revolut scrapped commissions on cryptocurrency trades for US customers up to $200,000 per month.

In April 2022, Robinhood expanded access to beta testing of its cryptocurrency wallet to 2 million users. The launch for all clients of the online broker is expected during 2022.

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