Revolut Partners with MetaMask to Launch Revolut Ramp for Direct Crypto Purchases
In Brief
Revolut partnered with MetaMask to introduce Revolut Ramp, enabling users to add crypto funds directly into MetaMask wallets.
Global digital bank Revolut collaborated with the self-custodial wallet MetaMask to introduce Revolut Ramp. The new feature will allow users to easily fund MetaMask wallets directly from Revolut accounts.
Continuing to expand its cryptocurrency offerings, fintech company aims to simplify adding cryptocurrency to self-custody wallets by allowing users in the United Kingdom and the European Economic Area (EEA) to directly make cryptocurrency purchases into their MetaMask wallets. Users will have the option to utilize the fiat currency balance in their Revolut account or make payments using Visa or Mastercard cards.
Revolut Ramp is accessible on MetaMask’s application, browser extension, and Portfolio platform, allowing users to buy up to 20 cryptocurrencies, including Ethereum, USDC, and Shiba Inu.
Furthermore, the new feature will streamline the verification process for current Revolut customers, utilizing the existing know-your-customer (KYC) procedures conducted through the Revolut application. While new customers can also access Revolut Ramp, they are required to undergo the same KYC process as standard users of the digital bank.
“This partnership is aimed at providing our users with more control over their crypto in a straightforward manner, using platforms they are already familiar with and trust. It also plays a crucial role in fostering broader crypto adoption, opening up the world of crypto to more people,” said Lorenzo Santos, senior product manager at ConsenSys, the developer behind MetaMask.
Revolut Navigates Cryptocurrency Sector
Founded in 2015, Revolut is a global neobank and financial technology company that provides banking services for retail customers and businesses through its application-based platform. The company’s offerings include a prepaid debit card, peer-to-peer payments, currency exchange, and cryptocurrency exchange. In addition to facilitating spending and ATM withdrawals in 120 currencies and money transfers in 29 currencies, Revolut offers its 40 million customers access to cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and XRP.
Recently, Revolut temporarily halted cryptocurrency services for business customers in the United Kingdom. The decision was attributed to the Financial Conduct Authority’s (FCA) introduction of new regulations governing cryptocurrency promotions.
Revolut’s collaboration with MetaMask and the introduction of Revolut Ramp highlight a significant step in simplifying cryptocurrency transactions and fostering broader adoption.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
