Instant Crypto Purchases: RevolutPay and Card Support

Under the partnership, Trust Wallet users can purchase crypto using RevolutPay, bank/credit cards, or bank transfers. Moreover, EU users can, in some cases, buy crypto instantly with zero fees. This model eliminates the traditional “deposit funds into a centralized platform first” requirement seen in most fintech systems. From the moment of purchase, users retain full, direct control over their digital assets.

Supported assets at launch include:

• Bitcoin (BTC)
• Ethereum (ETH)
• Solana (SOL)
• USDC
• USDT

Revolut and Trust Wallet plan to expand this list with additional cryptocurrencies in the near future.

Why This Partnership Matters

This collaboration is part of Revolut’s strategic expansion in the crypto sector. The company recently obtained a MiCA license, granting it the right to offer regulated crypto services across the European Economic Area. This license allows Revolut to diversify its crypto products and reach a broader user base.

Revolut’s rapid growth is notable:

• $4 billion in revenue in 2024
• $1.4 billion in pre-tax profit
• New banking licenses acquired in Mexico and Colombia
• A secondary share sale involving Coatue, Fidelity, and NVIDIA’s NVentures, valuing the company at $75 billion

On the other hand, Trust Wallet—used by over 220 million people globally—remains one of the leading self-custody solutions. Through this integration, Trust Wallet users gain faster, more secure, and more seamless access to crypto purchases.

Benefits for Users

The new integration offers three major advantages, especially for EU users:

• 1. Full ownership control: Assets go directly to Trust Wallet; at no point are user funds held on a centralized platform.
• 2. Fast and simple purchases: RevolutPay and card payments enable near-instant transactions.
• 3. Low fees: In certain cases, crypto purchases may be completely fee-free.

This innovation aims to provide a stronger, more independent digital asset experience for users in the EU.

Conclusion

The Revolut–Trust Wallet partnership represents a significant step forward for crypto users who prioritize security and full control over their assets. At a time when interest in self-custody models is rapidly increasing, offering users complete ownership and transparency delivers a major advantage in the European digital finance landscape.

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The fintech’s wealth division, which includes stock and digital asset trading, generated £506 million in revenue — almost four times more than in 2023. The renewed interest in Bitcoin (BTC) and Ethereum (ETH) played a key role in this growth.

Revolut Secures UK Banking License

Founder and CEO Nik Storonsky described 2024 as a landmark year, highlighting the acquisition of the long-awaited UK banking license in July. This license enables Revolut to test and roll out financial services like credit cards, buy-now-pay-later products, and potentially mortgages.

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In May, Revolut launched Revolut X, a desktop-focused crypto exchange offering over 100 tokens, low fees, and real-time on/off-ramps. The platform is expected to roll out on mobile in 2025. In November, Revolut X expanded across 30 markets in the European Economic Area, enhancing its digital asset offerings.

Challenges And Future Goals

Despite the surge in users, Revolut still struggles to convert app users into primary banking clients. In 2024, total deposits grew from $23.9 billion to $39.8 billion, a crucial factor for future lending services.

Revenue from premium plans increased by 74% to £423 million, while the business services division now contributes 15% of total revenue.

Revolut’s ambitious target: 100 million active users across 100 countries.

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This approval allows BlackRock to operate its new Bitcoin exchange-traded product (ETP) under a UK entity.

FCA Registration: What Does It Mean for BlackRock?

Managing a staggering $12 trillion in assets, BlackRock became the 51st crypto asset firm registered by the Financial Conduct Authority (FCA) on April 1.

This registration puts BlackRock alongside major players like Coinbase, PayPal, and Revolut. However, FCA has faced criticism for approving only 14% of applications submitted.

The FCA did not immediately respond to requests for comment.

Bitcoin ETP Listed in Europe

The iShares Bitcoin ETP was recently listed on Euronext Paris and Amsterdam stock exchanges.

Initially launched with a 10 basis point fee waiver, the expense ratio is set at 0.15% until the end of the year. Once the waiver expires, it will increase to 0.25%, matching competitors like CoinShares.

According to Bloomberg, this Bitcoin ETP is accessible to both institutional and informed retail investors.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Manuela Sperandeo, BlackRock’s Head of Europe & Middle East iShares Product, stated: “This marks a tipping point in the industry—established demand from retail investors is now being matched by growing professional interest.”

BlackRock’s Spot Bitcoin ETF Success in the US

In January 2024, BlackRock launched the first spot Bitcoin ETF in the US. Since then, it has grown to over $47 billion in assets, making it the largest ETF in the US.

US-based spot Bitcoin ETFs collectively attracted $107 billion in their first year—growing faster than any other ETF category in history.

BlackRock declined to comment on the developments.

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Still, a Robinhood spokesman claimed there are “no imminent plans” to create a stablecoin, even if the potential is not disputed. On its platform, Robinhood now provides trading in a range of digital assets, including the USDC stablecoin developed by Circle.

Bloomberg also mentioned that Revolut, a U.K.-based company, is thinking about introducing stablecoins. The crypto-friendly neo-ban debuted a retail wealth management tool last week that will let traders of cryptocurrency mix with other asset classes. A Revolut spokesman said the business intends to “further grow” its crypto products without specifically referencing a stablecoin.

One developing area of interest for financial organizations is stablecoins. Mostly from interest generated on USDT’s supporting assets, Tether, the biggest stablecoin issuer, posted $6.2 billion in net operating earnings in 2023. PayPal’s PYUSD stablecoin, which debuted in August of last year, now boasts a $700 million market capitalization, ranking fourth among all the stablecoins available.

Certain experts believe stablecoin activity in the European Union will increase with the approaching MiCA rules. Set to enter full effect at the end of 2024, the laws provide particular guidelines for stablecoin issuers, including licensing agreements and tight restrictions for reserve holding management.

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Revolut bank, which closed its US operations in the past period, opened its cryptocurrency exchange. Customers of London-based companies were previously able to buy and sell cryptocurrencies through the bank’s application. However, Revolut announced earlier this year that it would establish its own exchange to compete with other cryptocurrency exchanges.

Revolut’s new cryptocurrency exchange will offer lower transaction fees. While the transaction fee for market interest makers (makers) will be zero, the transaction fee for market takers (takers) is determined as 0.09%.

In March, Revolut collaborated with MetaMask to introduce the Revolut Ramp product, which will enable users to buy cryptocurrencies more easily and quickly.

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BONK, a Solana-based meme coin, has seen a 7% surge following the news of its potential listing on Revolut’s trading platform.

In a proposed collaboration, the European fintech company plans to launch a “Learn and Earn Campaign” aiming to increase its user base by 500,000. This initiative’s details can be found in the announcement made by BonkDAO on February 14.

Revolut currently has 38 million users and banking licenses in more than 50 countries. Thus, BonkDAO only needs to reach a mere 1.3% segment to achieve its goal.

It is necessary to encourage Revolut users to participate in the “Learn and Earn” campaign, where, reportedly, they will be rewarded with a $1.2 million prize.

BONK price

As per CoinGecko, BONK price is currently at $0.000014 following the news, having risen by 7.2% in the last five hours and 17.46% in the previous 24 hours.

By the end of 2023, BONK had increased its price by 14,000% to reach an all-time high of $0.000025. However, it has since fallen by 60% , but it still remains one of the most popular tokens in terms of trading volume.

The campaign is still awaiting its official green light and needs BonkDAO’s approval. Currently, seven out of twelve Bonk members have voted in favor of the campaign, needing just one more vote to reach approval majority. No one voted against the campaign. The remaining five voters have four days to cast their votes.

If approved, the “Learn and Earn” campaign will be conducted in two stages. The first stage is intended to initiate BONK’s organic growth on Revolut, which will last between one and two months. Afterwards, the Learn and Earn campaign will be fully launched.

Meanwhile, rumors are circulating that BONK will be listed on Robinhood soon, although neither party has clearly confirmed this.

Babe wake up! We’re all bullposting Bonk on the Revolut news and Robinhood rumors!

My heart is so full

Best Valentines ever

— Jecy | AllDomains (@Jecy024) February 14, 2024

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