Revolut has announced ‘Revolut Ramp’, its latest crypto offering in the UK and European Economic Area (EEA), in partnership with MetaMask.
Revolut’s latest offering, ‘Revolut Ramp’ aims to make the process of adding crypto to a self-custody wallet easier. The solution allows customers to on-ramp within seconds and purchase new tokens directly into their MetaMask wallets.
To purchase new tokens, the fintech’s customers can use their fiat currency balance, held in 18 currencies in their account, or pay with their Visa or Mastercard bank card.
MetaMask, the launch partner of ‘Revolut Ramp’, is a self-custody web3 platform developed by Consensys, a blockchain and web3 software company founded in 2014.
“By teaming up with Revolut, we’re making crypto more approachable and less complicated,” Lorenzo Santos, Senior Product Manager at Consensys, commented.
“This partnership is really about giving our users what they want – more control over their crypto, in a straightforward way, using platforms they already know and trust. It also plays a crucial role in fostering broader crypto adoption, opening up the world of crypto to more people.”
In addition to using their fiat currency balance, Revolut users can bypass verification checks by leveraging their existing verification status within the Revolut app. For non-Revolut users, ‘Revolut Ramp’ provides a Know Your Customer (KYC) process that the firm claims can be completed in minutes.
Additionally, users can make payments directly from their Revolut account, as transactions occur within Revolut’s ecosystem, avoiding additional card processing fees and ensuring competitive pricing.
Mazen Eljundi, Global Business Head of Crypto at Revolut, said: “We are excited to announce our new crypto product ‘Revolut Ramp’, a leading on-ramp solution for the web3 ecosystem. Our on-ramp solution ensures high success rates for transactions done within the Revolut ecosystem and low fees for all customers.”
Currently, customers have the option to purchase over 20 different tokens, including popular ones such as ETH, USDC, USDT, SHIB, 1INCH, through the company’s app or website.
Eljundi added: “We are delighted to partner with a leader in the web3 space, MetaMask. We will offer customers the possibility to buy more than 20 tokens with their fiat currency smoothly, securely, and without friction.”
So far, 2024 has been a big year in the crypto space, with Mastercard offering customers loyalty rewards of the digital currency in partnership with mobile payment app Swoo Pay.
