Revolut To Launch Native Crypto RevCoin In Coming Months

Cryptocurrency coins riding on a huge chromatic chopper
  • Revolut planned to launch native token RevCoin late last year.
  • The crypto push had to be slowed due to FTX’s liquidity crunch.
  • Revolut recently got a license in Cyprus & plans to expand further.

British neobank Revolut is continuing the crypto push with the upcoming launch of the bank’s native token – RevCoin. The crypto-focused bank introduced their crypto card at the end of last year, which makes it possible for customers to use both crypto currencies and fiat funds with the same card, while also receiving 1% cashback for primarily using the crypto balance.

The fintech giant described the new cryptocurrency RevCoin as “loyalty-based”, hinting that it would be awarded to active members of the crypto community in activities and might be included in Revolut’s Learn & Earn programs. Recently, the crypto learning program added 1inch (1INCH), the native crypto of the crypto exchange aggregator.

Slowed Down Plans Due To Crypto Winter

Besides European Union expansion plans, digital bank Revolut also became a prominent player in the United States crypto market. In September 2022, the U.S. subsidiary of Revolut added both popular dog-themed coins Shiba Inu (SHIB) & Dogecoin (DOGE) for American customers.

However, things have gone slow in 2022 due to FTX’s liquidity crunch, as once the second largest crypto exchange around the globe went bust overnight. The corrupt FTX founder’s Sam Bankman-Fried’s impact on the crypto market is still felt by many, even though crypto adoption is significantly increasing.

Moreover, Revolut CEO Nikolay Satoransky revealed that revenue from the app’s crypto trading tools had dropped dramatically from 35% in 2021 to just 5% in 2022. With plans to launch a non-custodial wallet on Ethereum’s (ETH) blockchain, with the ultimate goal to offer a multi-chain DeFi crypto wallet.

On the Flipside

  • Revolut is still waiting for a British banking license, as the UK regulators have been reviewing the application for over two years.

Why You Should Care

Revolut is one of the most prominent pro-crypto banks, offering services that let customers easily switch between fiat & crypto currencies.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.


Tadas Klimasevskis is an author & reporter, focusing on the latest tendencies of the crypto galaxy. Tadas spends his time digging deeper into specific areas like coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art, and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.