Ana Paula Pereira5 hours agoFintech Revolut integrates with MetaMask for in-app crypto purchasesAfter reviewing some of its crypto services over the past months, London fintech firm Revolut announces direct purchases through MetaMask.961 Total views5 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksLondon-based fintech firm Revolut has announced a new integration that will enable direct cryptocurrency purchases’ on MetaMask for customers in the United Kingdom and the European Economic Area (EEA).
According to a March 6 announcement, Revolut’s clients will be able to use their balance in fiat currency as well as debit and credit cards to purchase new tokens directly into their MetaMask wallets. Over 40 million users reportedly use the fintech ser, which supports 18 fiat currencies.
More than 20 different tokens can be purchased as part of the integration, including Ether (ETH), USD Coin (USDC), Tether (USDT) and Shiba Inu (SHIB), among others.
The move may also be a response to recent regulatory challenges, as Revolut recently had to review some of its crypto-based services. In August 2023, the neobank suspended all crypto services for United States users. A few months later, in January, itsuspended crypto purchases for users in the United Kingdom following new rules from the Financial Conduct Authority.
One of the new features enabled by the integration is tied to Know Your Customer (KYC) checks. Users of the Revolut app adding funds to MetaMask will skip verification checks since the firm relies on existing verification. KYC processes typically involve the collection and verification of personal information.
“This partnership is really about giving our users what they want — more control over their crypto, in a straightforward way, using platforms they already know and trust. It also plays a crucial role in fostering broader crypto adoption, opening up the world of crypto to more people,” said Lorenzo Santos, senior product manager at MetaMask’s parent company Consensys.
MetaMask allows users to buy cryptocurrencies directly within their wallets using various payment methods, including credit and debit cards, bank transfers and digital wallets like Apple Pay, Google Pay and PayPal.
Recent notable integrations with MetaMask include withdrawals from its crypto wallet to a Visa debit card that can be used at over 130 million merchant locations worldwide.
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