Despite the bear market, Revolut counts on crypto to become a financial super-app

Revolut is an application launched in 2015 by Nik Storonsky. Initially, it was only used for change, but today it has a variety of functions. Revolut allows for example to make cross-border money transfers as well as holiday reservations. The fintech started in the crypto sector in 2017, and since then, it wants to be totally focused on this technology.

Meeting all financial needs with crypto

This year, the fintech Revolut has launched several initiatives in the crypto sector. In the past month alone, she launched two notable projects. First, it launched a DeFi education program by collaborating with DEX aggregator 1inch. Next, it launched an instant messaging feature that integrates NFT profile pictures.

Now, Revolut reiterates its goal to develop a super-app to meet any financial need expressed by a user. The latter can be a merchant or an individual. A recent tweet from The Block reveals that Revolut’s CFO still believes in the utility of crypto. Despite the bear market Mikko Salovaara remains convinced that this technology will transform Revolut into a financial super-app.

The publication of Revolut

About this, Salovaara explained: “Crypto, at least as we perceive it, is a financial service that individuals and businesses with a cash management function fundamentally demand, and so we want to provide it to them.“. “Our strategy towards crypto has not changed and we view it as a long-term investment“, he specified.

Revcoin: an upcoming native token

In May, the CEO of Revolut gave various details on the project to create a native fintech token. Nik Storonsky had notably indicated that the token, Revcoin, would function as a Loyalty program. Indeed, the digital asset will reward loyal Revolut customers like airlines do.

Lately, Salovaara recalled that fintech is still continuing to develop Revcoin. He argues that this token will attract more customers once it launches.

The financial director of Revolut is showing optimism amid falling crypto trading volumes on the platform. Indeed, the latter fell by 50 at 75 % compared to 2021. Despite everything, Salovaara still seems convinced that crypto will revolutionize payment for goods and services around the world.

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