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Revolut is holding off on its token launch to find out the complete extent of the injury brought on by the FTX crash.
Quick-growing fintech Revolut is presently attempting to resolve the most effective time to launch its native token RevCoin. Though Revolut has beforehand hinted that the RevCoin launch date will probably be this 12 months, a spokesperson confirms that the specificity of the time will probably be depending on the agency’s analysis. The spokesperson wrote in an announcement”
“We’re scoping the market situations and assessing the most effective time to launch RevCoin within the coming months.”
Moreover, the corporate spokesperson who spoke on the situation of anonymity cited the industry-wide contagion from the FTX collapse. In line with him, that may be a main contributory issue to the delayed launch of the agency’s long-awaited native token. The crash of FTX has considerably made traders lose curiosity in cryptocurrencies. As such, Revolut is holding off on its token launch to find out the complete extent of the injury brought on by the crash.
Revolut Continues Its Crypto Push
It’s value noting that the native token launch is simply a fractional a part of Revolut’s enlargement targets. In a bid to enhance its market share in opposition to crypto-native platforms, the agency has additionally been increasing its digital asset choices.
Again in 2017 when the challenger financial institution launched its crypto providing, customers might solely purchase, promote, and commerce 25 of the preferred cryptocurrencies. Nevertheless, Revolut has since gone on so as to add to its crypto providing over the previous years, albeit constantly. The agency first added 11 new tokens in April 2021 together with Cardano and Filecoin. It additionally added the favored meme coin Dogecoin (DOGE) in June 2021.
By 2022, Revolut had multiplied its token portfolio 4 instances, at present providing virtually 100 cryptocurrencies to its shoppers within the UK and the EEA.
By all indications, Revolut seems to be eager on its crypto ambition. It obtained approval from UK’s prime regulator – Monetary Conduct Authority (FCA), for its crypto providers final 12 months. Additionally, it’s arguably one among Europe’s most beneficial fintech companies. Revolut boasts greater than 25 million customers globally and was final valued at $33 billion in a July 2021 funding spherical.
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Mayowa is a crypto fanatic/author whose conversational character is sort of evident in his type of writing. He strongly believes within the potential of digital property and takes each alternative to reiterate this.
He is a reader, a researcher, an astute speaker, and in addition a budding entrepreneur.
Away from crypto nonetheless, Mayowa’s fancied distractions embody soccer or discussing world politics.
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