The mobile banking app Revolut allows users to trade and hold Ripple’s XRP and Bitcoin Cash.
The company also added Litecoin, and Ether trading back in December 2017 and Bitcoin back in July 2017.
The company stated in a blog post that after a few months of debating and hard work now users receive the ability to exchange any of the 25 supported fiat currencies for its five crypto offerings today.
“After months of debate and hard work, we’re incredibly proud to welcome XRP and BCH to the Revolut app, which means you can now instantly exchange any of our 25 supported fiat currencies directly into XRP and BCH,” the blog post reads.
The reasons for which Revolut chose BCH and XRP
Revolut also explains the main reason for selecting these two cryptos in particular.
They say that the cryptos are currently the most popular ones that their community asked for. They also made sure to highlight the fact that Revolut remains open for more options in the future if users will be asking for them with enough “noise.”
Revolut stated that users would be able to use the cryptos to top up their debit cards with cryptocurrencies.
The announcement says that “We’ll simply deduct the fiat value from your cryptocurrency using the real exchange rate the moment you pay with your Revolut card.”
According to another blog post, for cryptocurrency purchases, Revolut charges 1.5% markup on “the average exchange price.” The price is obtained using live prices from the company’s partner exchanges.
It’s also important to note that users can send cryptocurrency to other users via the payment option. Revolut also states that users are not allowed to directly transfer them in or out of the app due to “strict regulation.”