Dogecoin Cashback Now Supported by UK’s Biggest Fintech Firm
British financial technology company Revolut offers its clients 1% cashback in Dogecoin (DOGE) and other cryptocurrencies, The Evening Standard reports. Customers will be able to receive cashback in the same cryptocurrency they spend. Revolut’s Crypto General Manager Emil Urmanshin has noted that the Revolut app now offers more than 100 cryptocurrencies. Recently, the London-based fintech firm announced its plan to add a cryptocurrency spending feature that would make it possible for its clients to use their crypto balance in order to make ordinary purchases. Revolut is the biggest fintech firm in the U.K. with a valuation of roughly $33 billion. Last July, it secured an $800 million funding round from the likes of Softbank Vision Fund 2 and Tiger Global. The company boasts more than 20 users.
Last month, Revolut was authorized to offer cryptocurrency products by the United Kingdom’s Financial Conduct Authority (FCA). It is the only company that was allowed to offer crypto out of those 12 businesses that received temporary registration in March. In mid-August, Revolut received approval from the Cyprus Securities and Exchange Commission (CYSEC) to offer crypto in the European Economic Area. Revolut has roughly 17 million customers across the EEA. The fintech company launched a suite of cryptocurrency services all the way back in 2017. Dogecoin’s revival As reported by U.Today, Dogecoin recently saw a significant rally due to Twitter integration rumors, recording triple-digit gains last week. According to data provided by blockchain analytics platform IntoTheBlock, 62% of Dogecoin holders are now in green.