Revolut Adds Four Cryptocurrencies, Including Tezos, EOS

British fintech app Revolut has added four additional cryptocurrencies to the platform, allowing its customers in the European Economic Area to buy EOS, OMG Network (OMG), 0x (ZRX), and Tezos (XTZ) tokens, the company announced on Thursday.

Currently, the app supports other major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple’s XRP, and Stellar Lumens (XLM)

According to Finance Magnates’ report, Revolut added these new tokens in response to high demand from its customers.

As Decrypt reported, Revolut users from the US have access only to a limited number of coins. Initially, the company launched the American version of its app in July, limiting it to Bitcoin and Ethereum. In September, the company added Bitcoin Cash and Litecoin trading for US clients.

Headquartered in London, Revolut is a “challenger bank”—like Venmo and Cash App—that’s trying to play on the same field as regular financial institutions. It attracts clients by offering a modern app and lower conversion fees as well as supporting cryptocurrencies.

Revolut bank brings cryptocurrrency offering to the US

British challenger bank Revolut has just expanded its cryptocurrency services to the US. The fintech startup, which launched in the US back in March, has partnered with New York-based financial infrastructure provider Paxos to make this happen. By using Paxos' recently announced plug and play brokerage service, Revolut is now also able to offer cryptocurrency trading services in the states, without having to tackle the regulatory and technological hurdles that cryptocurrency exchanges face on it...

According to the bank’s report published on August 12, it held around £2.2 billion (roughly $2.9 billion) in fiat holdings at the time.

Notably, there are a couple of limitations in Revolut’s crypto offerings—applied to both its US and EU customers. Namely, the cryptocurrencies bought via its app remain locked there, with the bank acting as their custodian. Apart from buying, customers can only transfer their crypto to other Revolut users.

This system is somewhat similar to PayPal’s. While the payments giant launched cryptocurrency trading for US users in mid-November, digital assets bought on its platform cannot be withdrawn from there to any external addresses. At least, for now.