Revolut, a UK-based online bank and fintech firm, recently revealed that it added a new cryptocurrency to its list of supported coins. The new coin that was only listed earlier today is Stellar (XLM).
Digital bank Revolut lists XLM
Following the move, Revolut released a press statement, noting the new addition to its offering. It also said that its users will now have the ability to trade or hold XLM on the bank’s platform.
However, the company also explained why it made this decision. Apparently, the demand for XLM was so great that the bank felt that adding a new coin is the right move to make. Thanks to the users’ overwhelming demand, Revolut now supports six cryptos in total.
Other major coins that can be found on the bank’s platforms include Bitcoin, Ethereum, Bitcoin Cash, and XRP.
The company’s head of crypto, Ed Cooper, added that this is only the first of many steps that Revolut plans to make in regards to digital coins. Apparently, the firm plans to completely overhaul its crypto product in days to come, and it decided to start by adding the most wanted coin in its community.
Revolut brings crypto trading to the US
Of course, this is not the only — or the largest — change that the bank has made recently. That honor goes to Revolut expanding its services to most US states, with a single exception of Tennessee.
The move allowed its US-based users to buy, sell, or simply hold coins, even though it limited its offering only to Bitcoin and Ethereum. Even so, providing US traders with the ability to use crypto within Revolut’s app is marked as a huge success, considering that the company only started operating in the country earlier this year, in March.
In fact, it needed to team up with another firm, Paxos, in order to gain regulatory approval to offer these two coins.
The firm also promised users that it would provide them with full legal control over their coins, starting July 27th. It fulfilled this promise, although it should be noted that the coins in Revolut’s ecosystem still cannot be transferred outside of it.