Fintech Revolut and MetaMask combine to enable in-app cryptocurrency purchases.
London-based financial company Revolut announces direct purchases via MetaMask after a review of a few of its cryptocurrency offerings over the last several months.
Customers in the United Kingdom and the European Economic Area (EEA) will be able to make direct bitcoin purchases on MetaMask thanks to a new connection revealed by London-based financial company Revolut.
Revolut’s customers will be able to buy fresh tokens straight into their MetaMask wallets using both debit and credit cards and their remaining fiat cash balance, according to a March 6 release. The fintech company, which supports eighteen fiat currencies, is supposedly used by over 40 million people.
As part of the integration, buyers will be able to acquire over 20 distinct tokens, including Ether (ETH $3,799), USD Coin (USDC $1.00), Tether (USDT $1.00), and Shiba Inu (SHIB $0.000032).
Revolut recently had to examine several of its cryptocurrency-based services, so it’s possible that the change was made in reaction to recent regulatory issues. Neobank stopped offering any cryptocurrency services to customers in the US in August 2023. A few months later, in January, it banned cryptocurrency purchases for UK consumers in accordance with new Financial Conduct Authority regulations.
The connection makes it possible to use Know Your Customer (KYC) checks as one of the new features. Since the company depends on current verification, users of the Revolut app sending money to MetaMask will avoid verification tests. Personal data is usually gathered and verified as part of KYC procedures.
The main goal of our collaboration is to provide our consumers with what they desire, which is more control over their cryptocurrency via simple methods on well-known and reliable platforms. Additionally, it is vital in promoting wider use of cryptocurrencies and bringing more individuals into the cryptocurrency space, according to Lorenzo Santos, senior product manager at Consensys, the parent company of MetaMask.
With the help of MetaMask, users may purchase cryptocurrencies straight from their wallets using a variety of payment options, like as bank transfers, digital wallets like Apple Pay, Google Pay, and PayPal, as well as credit and debit cards.
Withdrawals from MetaMask’s cryptocurrency wallet to a Visa debit card, which is accepted at more than 130 million retail outlets globally, is one of the platform’s most recent and noteworthy integrations.
