Fintech Revolut integrates with MetaMask for in-app crypto purchases
London-based fintech company Revolut has announced a new integration that enables direct cryptocurrency purchases on MetaMask for customers in the United Kingdom and the European Economic Area (EEA).
According to the March 6 announcement, Revolut customers can transfer their balances in fiat currency as well as debit and credit cards directly to their MetaMask wallet to purchase new tokens. More than 40 million users are said to be using fintech Ser, which supports 18 fiat currencies.
More than 20 different tokens can be bought as part of the integration, including Ether (ETH), USD Coin (USDC), Tether (USDT) and Shiba Inu (SHIB) and others.
The move may be a response to recent regulatory challenges, as Revolut recently had to review some crypto-based services. In the year In August 2023, Neobank suspended all crypto services for US users. A few months later, in January, it banned crypto purchases for users in the United Kingdom following new rules from the Financial Conduct Authority.
One new feature enabled by the integration is related to Know Your Customer (KYC) checks. Users of the Revolut app skip verification checks when adding funds to MetaMask because the company relies on existing authentication. KYC processes typically involve the collection and verification of personal information.
“This partnership is really about giving our users what they want – more control over their crypto, directly, using the platforms they already know and trust,” said Lorenzo Santos, senior product manager at MetaMask's parent company Consensys, in fostering broader crypto adoption, opening up the crypto world to more people. He plays.
MetaMask allows users to buy cryptocurrencies directly in the wallet using credit and debit cards, bank transfers and digital wallets using various payment methods such as Apple Pay, Google Pay and PayPal.
Recent integrations with MetaMask include withdrawals from crypto wallets to Visa debit cards, which can be used at over 130 million merchant locations worldwide.
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