Revolut
Image Source: Shutterstock

On October 8, 2020, Fireblocks announced that Revolut would be utilizing its MPC-based wallet and network infrastructure to introduce new crypto services to its 13 million users. Revolut is now the 100th customer of Fireblocks. The company is currently the fastest-growing private tech firms and one of the biggest FinTechs in Europe. Fireblocks is a leading provider of infrastructure solutions needed to secure digital assets.  

The Services Revolut Offers its Clients

Revolut offers its clients various fintech products that include crypto and stock trading as well as daily budget management. Their services are available globally. Today, the company has a user base of 13 million who make over 100 million transactions every month. With such a high-level operation, ensuring they have the right security measures is essential.

By streaming liquidity settlements via the Fireblocks Network, it will guarantee the best possible price for users while cutting down the counterparty risk. The MPC-based wallet infrastructure and network developed by Fireblocks will make it possible for Revolut to expand its services. Consequently, Revolut’s clients on the platform will have access to more traditional banking services alongside crypto. With the support of Fireblocks, Revolut can efficiently scale its crypto services by streamlining its storage, liquidity access, and settlements while being compliant.

The Rise Of Challenger Banks

Many people globally have been moving to fintech mobile apps, popularly known as challenger banks. These banks allow users to avoid the cost and complexity encountered when joining a traditional banking institution. The growth of their customer base increases its market value. Today, Revolut is a leader in this sector with a market valuation of around $5.5 billion.

As the demand for crypto-based services continues to grow, Revolut is seeing increasing interest levels. Its users view it as an all-in-one solution for improving financial health, gaining control of their assets, and seamlessly connecting with the masses globally.

Leader Feedback 

According to Ed Cooper, the Head of Crypto at Revolut, it was crucial for them that their platform took advantage of the best crypto management solutions. The reason for this was the need to protect their market share and global presence.

Cooper added that moving to Fireblock’s wallet infrastructure would give them a competitive edge. It would enable them to deploy advanced crypto features for their clients, as the space continues to evolve quickly. He concluded by stating that they were working with Fireblocks to explore the possible experiences they could offer their customers.

Commenting on the issues, the Fireblocks CEO, Michael Shaulov, said they had seen huge demand from challenger banks, especially those entering the retail crypto industry. He added that they were excited to help Revolut in driving crypto adoption by providing a trusted infrastructure for the next billion people that enter the crypto market.

Fireblocks has emerged as a leader when it comes to providing security solutions to those in the crypto sector. Its solutions are already in use with other leading firms in the crypto sector such as ShareRing. By improving the security of platforms within the crypto sector, it will help to increase trust and drive mass adoption.

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice.

This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

You May Also Like

How BSOV Token Price Can Benefit From Greater Mining Costs

The BSOV Token  With all the noise, scams, price fluctuations, and fake…

Philanthropist Bill Pulte to Help Africans With Bitcoin

Bill Pulte who has become famous for his act of generosity and…

Waves Ports High-Interest Yielding Stablecoin Neutrino USD to Ethereum Network

Paves Path for Decentralized Forex and Inter-Chain DeFi SAN FRANCISCO- August 18,…
NULS Blockchain

veriTAG Leverages NULS Blockchain to Solve Asia’s Food Safety Problem

SAN FRANCISCO – August 27, 2020 – VeriTAG, a cloud-based tracking system…