In a move to streamline cryptocurrency adoption, global fintech leader Revolut has partnered with MetaMask, the leading self-custody wallet provider. This collaboration introduces Revolut Ramp, a new feature allowing users to directly purchase cryptocurrencies within their MetaMask wallets. The solution enables Revolut’s existing customers to buy digital assets using their fiat currency balances, Visa or Mastercard, in just a few seconds.
Revolut Ramp leverages existing KYC verification from the Revolut app, eliminating the need for duplicate checks for existing users. This allows for swift purchases of over 20 cryptocurrencies, including popular options like Ethereum and USD Coin. Directly enabling the use of a Revolut account balance or linked debit/credit cards within the familiar MetaMask interface. Mazen Eljundi, Global Business Head of Crypto at Revolut stated,
We are excited to announce our new crypto product Revolut Ramp, a leading on-ramp solution for the web3 ecosystem… We are delighted to partner with a leader in the web3 space.
As pointed out by the platform, this integration unlocks a combined user base exceeding 70 million, potentially bringing a significant wave of new participants into the cryptocurrency space. Revolut, with over 40 million users, has been continuously expanding its crypto offerings since its launch in 2017. MetaMask, boasting over 30 million users, is reportedly a popular choice for managing and interacting with decentralized applications (dApps) built on blockchain technology.
Revolut’s foray into deeper crypto integration reflects a broader trend of traditional financial institutions embracing the digital asset landscape. This partnership aligns with the recent surge in popularity of spot Bitcoin ETFs and the increasing involvement of established players like BlackRock and Fidelity.
Recently, the U.S. spot Bitcoin exchange-traded funds witnessed unprecedented trading volumes particularly BlackRock’s bitcoin ETF, IBIT. The ETF recorded over 96 million shares traded amounting to approximately $3.3 billion in value setting a new record for the third consecutive day.
The increasing popularity of Bitcoin ETFs is inspiring other significant players in the industry to consider launching their own Bitcoin ETF products. One of these players is the Europe Opportunity Fund of Morgan Stanley, which has recently updated its filing to potentially include investments in spot Bitcoin ETFs.
