Revolut, backed by MasterCard, makes cross-border payments in bitcoin

nRunaway Comment: Revolut, a London-based digital payment company, will provide customers with bitcoin, Litecoin and Ether currencies, as well as storage and money transfer services in 25 currencies of the same type worldwide, reducing the difficulty of obtaining such cryptocurrencies. And the platform charge low fees, no hidden costs. The related services have been approved by Lloyd’s of Bank of England and MasterCard, while currency trading is done via two well-known cryptocurrency exchanges Bitstamp and GDAX.n
nTranslation: Annie_Xun
London Digital Payments Inc. will allow customers to buy, hold and trade bitcoins and other digital currencies through their mobile app.n
Revolut, which allows customers to cross-border zero-fee payments, will be able to connect Bitcoin, Litecoin and Ether in seconds, as well as 25 currencies in the world. Users can store digital currencies in apps or transfer them to others at no charge.n
At TechCrunch’s Disrupt Berlin meeting, Revolut CEO Nikolay Storonsky announced Thursday that customers will be able to access the service.n
Although cryptocurrencies are one of the hottest spots in the world right now, getting cryptocurrencies is time-consuming and expensive.n
At the time of the announcement, the digital currency market is experiencing soaring prices as the mainstream is on the rise. Before the release of the Bitcoin futures contract, Bitcoin prices rose in recent months, reaching a new historical record of 12,000 U.S. dollars. The total market value of cryptocurrencies has reached 376.3 billion U.S. dollars.n
As cryptocurrencies continue to move into the mainstream, Storonsky argues that digital currencies will soon become part of the bank’s processes. In the company’s one-week crypto-currency beta test, he said 10,000 customers had $ 1 million worth of digital currency transactions.n
n”Obtaining cryptocurrencies has always been the primary function required by our clients, so we listen and take action.”n
nRevolut hit a milestone for millions of users last month, underscoring the company’s potential to attract more customers when launching this week.n
Once a user using a Revolut card to make a deposit pays off, they automatically calculate the cryptocurrencies they hold and extract the amount they need. Storonsky said that after the feature is open, it will provide competitive rates. Unlike other platforms that charge 5% to 9% implicit fees, Revolut will charge 1.5% with no other hidden fees.n
Revolut, which uses Lloyds to process the deal and issues MasterCard debit cards to its customers, said both agencies were “satisfied” with the move.n
n”We can not do that without their permission.”n
nDigital currency trading will be through two well-known cryptocurrency exchange Bitstamp and GDAX.n

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