Home News Revolut launches commission-free crypto trading for US investors

Revolut launches commission-free crypto trading for US investors

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The fintech company Revolut has announced commission-free crypto trading in the amount of up to $200,000 per month. Similar conditions are offered to users of the application from the USA. Previously, this threshold was $200.

Revolut also eliminated commissions: for withdrawals from ATMs in the amount of up to $1200 monthly; for the first ten international money transfers; for opening up to five accounts for children.

Thus, the initiative focuses on increasing financial freedom for US citizens. Moreover, Revolut expects to increase brand awareness.

“Super-app” in the field of finance

The company entered the American market in March 2020, at the height of the COVID-19 pandemic, which affected the dynamics of the business.

“We had a very quiet opening. Now it’s about where are we going from here. What we’ve discovered is that we have the deepest and widest offering of any fintech in the United States today,” Ron Oliveira, head of the Revolut division in the USA, explained to The Block.

In addition, sources of the publication reported on Oliveira’s departure from the company in the coming months. He has held the position of CEO since November 2019. The application is positioning itself as a “super-app” in the field of finance.

A great success story

Earlier in July, Revolut raised $800 million as part of another investment round. The company used the funds received to accelerate growth in the US and India, develop new products and finance marketing efforts.

“We want to see more of the great success stories of UK fintech like Revolut,” UK Treasury Secretary Rishi Sunak said.

Recall that in October 2020, the media reported on Revolut’s desire to obtain a banking license in the United States. “It’s a huge opportunity for us if we can provide all of the products you require in a single app. But the app is highly personalized to your needs”. Nikolay Storonsky, CEO and co-founder of Revolut, stated.

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