Mobile banking app Revolut announced it adds Ripple (XRP) and Bitcoin Cash (BCH) to its crypto assets, which allows its users to buy, sell and hold these two cryptocurrencies, reported Coindesk on May 24.
The company added bitcoin in July 2017 and further added the trading of ether and litecoin near the end of 2017 on its app. In a blog post, the firm expressed that “after months of debate and hard work,” investors using the app will now be able to exchange 25 supported fiat currencies for the five crypto offerings.
In the same post, Revolut expressed that it will possibly add new cryptocurrency options in the future and that it added XRP and BCH because they were the “two most popular cryptocurrencies our community wanted.”
The company also mentioned that it will allow users to use their debit card to purchase cryptocurrencies. “We’ll simply deduct the fiat value from your cryptocurrency using the real exchange rate the moment you pay with your Revolut card.”
Revolut expressed in another blog post that it will charge a 1.5 percent markup on “the average exchange price” for cryptocurrency purchases which is calculated with live prices from its exchange collaborators. Also, since there are “strict regulations”, the firm mentioned the money will not be transferred immediately in or out the app.