Instant cryptocurrency
exchange Changelly announced today (Thursday) the addition of Revolut’s payment
infrastructure to its platform, enabling cryptocurrency purchases for users in
the European Economic Area (EEA).
Changelly Adds Revolut as
Payment Provider for European Market
The
technical integration allows users to purchase cryptocurrencies using Revolut
Ramp, expanding the payment options available on Changelly’s platform. Users
can access 30 cryptocurrencies using 20 fiat currencies through various payment
methods, including cards and Revolut Pay.
“We’re
really excited to be partnering with Changelly to help its large user base
bridge the gap between the fiat and web3 worlds,” Michael Hey, the Product
Owner of Revolut Ramp, commented. “This partnership allows our 50 million
customers to easily buy crypto directly into any wallet they own via
Changelly’s website or app.
The move
adds another payment provider to Changelly’s existing network of
fiat-to-cryptocurrency gateways. Revolut users can now purchase digital assets
directly through Changelly’s platform while using their existing Revolut
accounts.
In
November, Revolut announced the expansion of its cryptocurrency exchange
platform, Revolut X, to 30 additional markets within the EEA. This
move builds on the earlier launch of Revolut X in the United Kingdom, where the
platform has already gained traction among tens of thousands of traders.
“We’ve seen
Revolut Ramp grow really fast this year as users enjoy the ease of buying
crypto without additional KYC and paying directly from their Revolut account at
competitive rates and with high success rates.”
Changelly,
established in 2015, operates a cryptocurrency exchange platform that handles
multiple digital assets. Revolut, which began operations in 2015 as a money
transfer service, has since expanded to offer various financial services.
“By
integrating Revolut Ramp, we’ve streamlined the crypto purchase process for
both Revolut and Changelly users, reducing transaction times and offering
impressive limits,” Zifa Mae, Head of
Product at Changelly, added. “This efficiency, coupled with our competitive
rates, not only strengthens our position in the crypto market but also enhances
our ability to serve a broader user base.”
The service
is accessible through web and mobile platforms for users in the European
Economic Area. The companies noted that the integration does not extend to the
United Kingdom market due to regulatory requirements.
Instruments, Transaction Amounts and Future Plans
Finance Magnates inquired about additional details regarding the latest service. According to information provided by Changelly, Revolut users can now purchase over 30 cryptocurrencies via Changelly. These include major tokens such as Bitcoin (BTC), Ethereum (ETH), and others like ALGO, AVAX, ADA, DOGE, AAVE, APE, BAL, CHZ, CRV, GRT, LINK, MATIC, MKR, PERP, QNT, SHIB, SNX, UMA, UNI, USDC, USDT20, ZRX, 1INCH, LTC, DOT, XRP, SOL, XLM, and XTZ.
The minimum transaction amount is $12, with a maximum monthly limit of $125,000.
When asked whether there are plans to expand the partnership beyond the EEA region, Changelly responded that they are actively “exploring opportunities to expand our reach and strengthen our Revolut-Changelly partnership.”
Last year, Revolut
disclosed plans to introduce its own stablecoin, broadening its range of
crypto-asset offerings. Revolut aims to compete with established companies such as PayPal, Ripple, and BitGo by entering the stablecoin market. Reports
indicate that the company is positioning itself as a prominent player in the
crypto sector, with a strong emphasis on compliance and security for its users.
The stablecoin initiative comes at a time when new entrants are increasingly
joining the market.
This article was written by Damian Chmiel at www.financemagnates.com.
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