Cryptocurrencies

Digital Bank Revolut Adds Stellar to List of Supported Cryptocurrencies

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U.K.-based fintech firm Revolut announced Tuesday it has added Stellar lumens (XLM) to its list of supported cryptocurrencies. 

  • In a press statement emailed to Coindesk, Revolut said customers will now be able to trade and hold XLM on its platform.
  • According to the statement, Stellar’s addition was in response to “overwhelming demand” from users. Revolut currently supports a total of six cryptocurrencies including bitcoin, ether, XRP and bitcoin cash.
  • Earlier this month, Revolut announced its customers in all U.S. states except Tennessee could buy, sell or hold bitcoin and ether on its platform. While Revolut had started operating in the U.S. in March, it then partnered with Paxos to gain regulatory permission required to offer crypto banking services. 
  • “Adding Stellar and passing ownership of cryptocurrencies to our customers are the first in a series of steps we are taking to seriously overhaul our crypto product,” Ed Cooper, the company’s head of crypto, said in the statement.
  • In an email sent to its customers last month, Revolut said it would give users legal control over their cryptocurrencies starting July 27. Although the firm said it would cease to be the “legal owner” of the available cryptos, users would still be unable to transfer the funds outside of Revolut’s ecosystem. 

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