Revolut integrates with MetaMask, allowing users to make crypto purchases
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Revolut users can now make direct crypto purchases using their existing Revolut accounts thanks to the company’s new integration with MetaMask, a leading self-custodial crypto wallet. The partnership essentially represents a new fiat-to-crypto on-ramp for MetaMask wallets, allowing users to seamlessly replenish their holdings.
Another major benefit of the integration is that it significantly simplifies the process of making crypto purchases and adding digital assets to the self-custodial wallet.
Revolut’s global business head of crypto, Mazen Eljundi, commented on the new move by saying that this service ensures high success rates for transactions done within the Revolut ecosystem. Apart from that, it will also ensure low fees for all customers. Moving forward, Eljundi said that Revolut will offer the possibility to buy over 20 tokens to its customers, all of which will be available for purchase with fiat currency.
The process will be smooth, secure, and without any obstructions. Customers across the UK and Europe will be able to top up their wallets using the fiat currency balance in their Revolut account. Alternatively, they will also be able to make purchases using Mastercard and Visa.
The integration is the next step in simplifying access to crypto
Commenting on the new partnership, the senior product manager at MetaMask developer Consensys, Lorenzo Santos, stated that the aim of the integration is to make digital currencies easier to approach, and less complicated. Over the years, the crypto industry has seen massive levels of simplification, but it still has more room to improve.
The idea is to make buying and selling crypto simple enough that anyone can do it, regardless of their expertise with modern technologies. Once buying and selling crypto is as simple as sending an email, the sector will consider itself simple enough for mass adoption to commence.
According to Santos, the Revolut integration is a step in the right direction. He said: “This partnership is really about giving our customers what they want — more control over their crypto, in a straightforward way, using platforms they already know and trust.” Santos also added that the partnership plays a crucial role in fostering broader crypto adoption, as it will open the world of crypto to more people.
Last month, in February 2024, Revolut also said that it intends to introduce a cryptocurrency targeting advanced traders, according to a report by CoinDesk. Right now, the company offers basic crypto services which are available for the majority of its 40 million users. However, the firm also suspended crypto services for UK-based business customers last December, in order to comply with the FCA’s new regulations regarding crypto promotions.
