The UK based fintech company Revolut announced it will add Ripple and Bitcoin Cash on its money transferring app. This comes after in December the company added Bitcoin purchases on the application.
Initially, the Revolut application was created to enable its users to exchange money at low fees while they were linked to a debit card. While the app was compatible with 150 fiat currencies, starting December 2017, the owners of the company decided to add cryptocurrencies as well.
In December, the company disclosed that from 1.8 million Revolut users hundreds of thousands have chosen to use the bitcoin trading option. Furthermore, the company added that listing new coins, namely Ripple and Bitcoin Cash would seem like the right move.
The CTO of the company spoke with The Telegraph and declared that the demand for both the Ripple and Bitcoin Cash currencies had been “overwhelming” despite the cryptocurrency boom waning.
Ripple has become in the past year one of the most popular cryptocurrency. Besides its significant increase in market capitalization, the owner of the company worked on creating multiple partnerships with financial operators and governmental institutions.
Ripple announced last month that five new companies will start using their xVia system to may payments on the RippleNet. The next step for the companies is to implement the xVia API on their platforms.
Along with Ripple, Revolut has started its expansion also. The company just finished a series of investments during which it managed to raise $250 million, raising the value of the company to $1.7 bln. The company reported that Revolut is backed by a group of investors who helped companies like Spotify and Airbnb to grow into giants.
Besides cryptocurrencies then next step for Revolut is to expand to US, Canada, Singapore, Hong Kong, Australia and New Zeeland.
“By expanding overseas, we will be empowering millions of people to take control over their financial lives, and in the process, we will be reducing the cost of international transfers by partnering with the best players in the financial world,” wrote the company.