Revolut will use Fireblocks to expand its cryptocurrency services

Today Revolut announced a new collaboration with Fireblocks to expand its services related to the cryptocurrency world.

Fireblocks is a company that is responsible for securing the infrastructure that houses or enables trading with digital assets. To date, the company has secured transfers of more than $70 billion in cryptocurrencies and provides exchange insurance policies to cover the safekeeping and movement of digital assets.

Revolut’s user base, which currently consists of 13 million people worldwide, will therefore feel safer when working with the company’s cryptocurrency services through this joint venture with Fireblocks.

Ed Cooper, Head of Crypto at Revolut, said: 

“It is crucial that our platform takes advantage of the best crypto management solution in the industry because of our market share and worldwide presence. Moving to Fireblocks’ wallet infrastructure gives us a competitive edge over other financial applications as it will enable us to rapidly add more advanced crypto features as the space continues to evolve at breakneck speed: we are now working closely with the Fireblocks team to explore all the new experiences that we can offer our customers in the near future.”

This increased security will allow Revolut to provide more cryptocurrency services.

Michael Shaulov, CEO of Fireblocks, explained:   

“We have seen a tremendous amount of demand from fintech and challenger banks, especially ones that have begun forraying in the retail crypto market. We are excited to assist Revolut in driving the adoption of cryptocurrency by providing a trusted infrastructure for the next billion people coming into crypto.”

Revolut and crypto

Just this morning the fintech company announced that it had reached 500,000 users on its business platform.

Last July Revolut added support for Stellar Lumens (XLM) to its portfolio, but in general the platform also supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and Ripple (XRP).

Source: “Revolut will use Fireblocks to expand its cryptocurrency” Cryptonomist, https://en.cryptonomist.ch/2020/10/08/revolut-fireblocks-cryptocurrency-services/