8.6 C
New York
Monday, May 27, 2024
Home Challanger banks Revolut is about to add dogecoin to crypto trading portfolio

Revolut is about to add dogecoin to crypto trading portfolio

Revolut is preparing to list Dogecoin as one of the tradeable crypto’s in the Revolut financial super-app, which is more and more serving as a trading app.

According to The Block’s special report , the company was aiming to open Dogecoin for trading before Elon Musk’s show on Saturday Night Live aired, but as of May 7, tests were still being conducted on Dogecoin.

Read also: Bunq exceeds €1 billion in user deposits

Sources told The Block that Revolut may be launching dogecoin soon, but the exact timing is still unclear. A spokesperson of Revolut declined to comment.

Dogecoin was launched in 2013 as a joke. The cryptocurrency has reached a market value of almost $ 100 billion this year, with the support of billionaires such as Elon Musk and Mark Cuban.

Revolut now has more than 15 million users and added 11 new cryptocurrencies last month, increasing the number of cryptocurrencies it listed to 21. In the application, cryptocurrencies can only be traded and stored, and cannot be withdrawn from another wallet.

The new list includes Cardano, Uniswap, Synthetix, Yearn Finance, Uma, Bancor, Filecoin, Numeraire, Loopring, Orchid, and The Graph.

Revolut announced this with a statement: “2021! Revolut’s year of crypto. A whole year to bring you new features, new tokens, and a few other surprises along the way. You asked for new tokens, we’ve delivered. We’ve been tracking hot tokens and top movers to bring our UK and EU customers 11 new cryptocurrencies.”

However, the company announced on May 6 that it will allow Bitcoin withdrawals.

A Revolut spokesperson has confirmed the announcement of withdrawals last week in an email to Forbes, stating “We’re launching next Thursday, unfortunately the blog went up a little too soon”.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

NEW Revolut UK CEO to make Conference Debut at MoneyLIVE Summit

MoneyLIVE has today announced that Revolut’s newly appointed UK CEO will be making her conference debut at MoneyLIVE Summit 2024, which is...

2024’s Financial Innovators: A New Era of Banking Startups 

In the wake of the COVID-19 pandemic, our world witnessed an unprecedented shift towards digitalization. The banking industry, in particular, has been...

C-suite Banking and Payments Leaders From Across Europe Set to Meet at London’s MoneyLIVE Summit in March

On the 6-7 March 2024 MoneyLIVE Summit will return to London’s QEII Centre to unite over 1000 banking and payments leaders from...

The Evolution of Digital Wallets: A Shift from Physical Cards by 2030

By 2030, we can expect digital wallets to become the preferred payment instrument, offering a myriad of non-payment-related services for consumers.