Revolut, a trading name of Revolut Small, is an electronic banking alternative which includes a pre-paid debit cards (MasterCard or VISA), forex, cryptocurrency exchange (Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC)) and peer-to-peer repayments. Revolut presently charges no fees in most of its services (but also for a capped utilization, see “fees” section), and uses interbank exchange rates because of its forex on weekdays, and fee a markup from 0.5% to at least one 1.5% on weekends . The Revolut App offers customers access immediately to Bitcoin, Litecoin and Ether by exchanging to/from 25 fiat currencies. However, they stay in the iphone app and can’t be moved to some other cryptocurrency wallet.
The London-based startup was founded by Nikolay Storonsky and Vlad Yatsenko and presently facilitates spending and ATM withdrawals in 120 currencies and turning in 26 currencies straight from the mobile app.
The company is situated in Level39, a financial technology incubator in Canary Wharf, London.
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