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Revolut: Digital Bank Expands Crypto Buying and Selling Service to Australia

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Revolut opened its cryptocurrency service to Australian residents for the first time. According to a press release CoinDesk received on Thursday, Australian customers of the digital banking company can now buy and sell up to six different digital assets and receive real-time notifications to keep users informed of price developments.

The product supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), XRP and Stellar (XLM).

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The Australian members of the company’s Advanced Metal Services will receive first-time use rights.

Users can now use the app to convert Australian dollars and 26 other legal currencies to cryptocurrencies.

In early August, Revolut entered the Australian market for the first time through statutory banking services (including wire transfers and loans).

Revolut, headquartered in the UK, was founded in July 2015. It is a financial services platform that offers banking products through its mobile applications, usually for young and web-savvy customers.

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The company expanded its encryption products internationally this year, most recently in the USA.

In July, Revolut updated its terms to allow users to exercise legal control over their own cryptocurrency on the platform.  Although, they are still not allowed to transfer digital assets from the Revolut ecosystem.

Previously, Revolut carried out cryptocurrency transactions on behalf of its clients.

The fintech firm began getting into cryptocurrency in the summer of 2017 after closing a $ 66 million Series B financing led by Index Ventures, BitPay, Xapo, Balderton Capital and Ribbit Capital.

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