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Revolut Launches Cryptocurrency Card with Cashback on Dogecoin, Bitcoin and Ethereum

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Fintech company Revolut this week announced the launch of a tool to make its cards enabled for cryptocurrency payments. For now, the product is only available to people in the UK.

According to the Evening Standard portal, Revolut’s “Pay with Crypto” feature will still offer users a 1% cashback on digital assets for purchases paid with any of the platform’s 100 or so tokens, including Dogecoin. , Bitcoin and Ethereum. Cash will be paid in the same cryptocurrency that the user spends on the purchase.

Payment with crypto and cashback

As per the announcement, the user will be able to activate the Revolut solution on any card. In addition, the customer will be able to switch between which currency to use.

“This year, we not only increased the number of digital assets available on the Revolut app to around 100 tokens, we also launched the ‘Crypto Learn & Earn’ education courses. [Aprenda e Ganhe] appreciated by millions of our customers,” said Revolut General Manager of Cryptocurrencies, Emil Urmanshin.

The “Learn and Earn” series of courses aims to help customers improve their knowledge of crypto and related topics, including blockchain and the most popular tokens and protocols.

“Now, we are making cryptocurrencies even more popular by empowering people to use crypto-enabled cards to spend their tokens on everyday purchases,” said Urmanshin.

Revolut is a financial institution considered a “digital banking alternative”. Fintech has a prepaid debit card, crypto buying and selling service and P2P payments.

In August of this year, as CriptoFácil reported, Revolut received authorization from the Cyprus Securities and Exchange Commission (CYSEC) to offer crypto services throughout the European Economic Area (EEA). With that, Revolut started offering its crypto services to a total of 17 million people.

Crypto-enabled cards are trending

The launch of the solution to make any card crypto-enabled follows a recent market trend. Several companies in the industry are launching their own cards for payments in digital currencies.

Last month, Blockchain.com, for example, partnered with Visa to launch a crypto debit card with 1% cashback in crypto. For now, the card is only available to US users. But the company’s idea is to expand the product to other countries from 2023.

In the same month, exchange FTX reported that it will launch its Visa debit card in more than 40 new countries. The company’s initial focus will be Latin American countries, including Brazil.

Prior to that, Binance launched in Argentina a crypto debit card with up to 8% cashback. As announced by Binance, the new card is the result of a partnership with Mastercard.

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