Despite the hegemony of the bears, crypto platforms did not shy away from expansion. Again, this created a divide in the market. While certain platforms were busy laying off their employees due to the wrath of the bear market, a few others were on an exploration spree. Prominent platforms like Binance, Crypto.com, FTX, and others managed to legally set up shops in different parts of the world. Now, Revolut, a neobank based in London did not want to stay on the sidelines as it jumped right into the crypto business.
Back in 2020, Revolut joined hands with Paxos with the aim of delivering crypto service to US residents. However, this came to an end in August. Several suggested that the firm had veered into the US following the success of Robinhood’s crypto wing. Now, sprucing up the competition, Revolut was on a mission to bring in more tokens for its users. The firm recently partnered with Apex Crypto, a cryptocurrency service provider in order to elevate its services.
According to reports, the firm has added 29 new tokens for its US customers. This list included prominent ones like Shiba Inu [SHIB], Dogecoin [DOGE], Solana [SOL] as well as Avalanche [AVAX] among others.
Revolut global business head for crypto Mazen Eljundi further stated,
“Today we’ve more than quadrupled our token portfolio to give our customers access to a much more diverse crypto offering.”
Revolut expands its crypto wing amidst data breach
While the London-based bank was on its way to taking down its competitors like Coinbase and Robinhood, a third party managed to steal some of its data. As per recent reports, the firm was attacked and the personal details of 0.16 percent of its 20 million users were compromised.
The firm affirmed that the attacker did not garner access to funds stored on the platform. Revolut reportedly sent out emails to the affected customers noting that they had nothing to worry about. The email read,
“As you were part of a very small percentage of affected customers, we want to reassure you that your data is now safe, and we understand that you may have questions about this incident. Your money is safe, as always. You can use your card and account normally.”