Digital currency exchange facilitates instant conversion of fiat money to cryptocurrency through app
NEW YORK CITY – December 6, 2017 – Bitstamp, a leading global digital currency exchange and the largest bitcoin exchange in the EU in terms of volume, today announces that it will facilitate transactions of three cryptocurrencies – bitcoin (BTC), litecoin (LTC) and ethereum (ETH) – among customers of Revolut, the London-based “global banking alternative.” Through this partnership, Revolut users will be the first ever to buy, sell and hold the three cryptocurrencies and instantly convert fiat money to cryptocurrency within the app.
Revolut customers will now be able to use the app for instant purchases of cryptocurrencies via Bitstamp or transfer their bitcoin, litecoin and ethereum to other Revolut customers instantly and for free. And in the event that Revolut customers will hold no fiat currency in their account, Revolut will dynamically convert any cryptocurrency the customer holds within the app when using their card with the best possible rate. This innovation removes the many steps involved in buying and selling cryptocurrencies, while also allowing Revolut customers to keep track of all their transactions – both fiat and cryptocurrency – all in one place.
“Our partnership will enable Revolut users to have the same level of functionality of BTC, LTC, ETH that they have with any of their other currencies,” said Bitstamp CEO Nejc Kodrič. “The increase in liquidity, speed and ease of use unlocked by this partnership are significant steps toward wider adoption of cryptocurrency as the offering becomes more mainstream.”
Revolut chose Bitstamp as a partner due to the level of safety and reliability that the exchange brings to every transaction, as well as its ability to provide seamless conversions. Revolut users will not need a Bitstamp account to perform transactions.
“This is something that our customers have wanted for a long time,” said Lewis Tuff, Revolut’s Chief Platform Engineer. “We think Bitstamp is the perfect partner as we provide Revolut customers with the ability to convert fiat money to cryptocurrencies, making the process much faster and much more accessible.”
Founded in 2011, Bitstamp is a leading global digital currency exchange and the EU’s largest in volume terms. Currently offering trading between BTC, ETH, XRP, LTC, USD and EUR, the exchange favors caution over extravagance, care over profligacy and quality over quantity. Bitstamp provides its individual and institutional clients with an intuitive and engaging environment for trading and custodial services. And with its focus on prudence and oversight, Bitstamp is uniquely positioned to serve as a stepping stone between the traditional financial and digital currency worlds. Safe, simple and secure to use, Bitstamp always puts its customers first, which is why it gets the stamp of approval from over a million traders throughout world. For more information about how Bitstamp exchanges information, ideas and trust, visit www.bitstamp.net
Revolut launched in July 2015 with a punchy mission: to turn the financial banking sector on its head. With Revolut, users can set up an app-based current account in 60 seconds, spend abroad in over 130 currencies with no fees, hold and exchange 25 currencies in-app and send free domestic and international money transfers with the real exchange rate. In just two years, London-based Revolut has signed up over 1,000,000 users across Europe and processed 42 million transactions with a total volume transaction of $6.5B to date. Revolut has raised a total of $90m from some of the most notable investors including Index Ventures and Ribbit Capital.