Revolut continues crypto push with ‘staking’ feature #
Revolut now supports crypto staking, and customers who want to invest in crypto assets can take advantage of Revolut’s new crypto feature that allows them to lend their assets in exchange for rewards.
Crypto staking is the practice of lending assets to maintain the integrity of the blockchain network. The bet is made for a certain period of time, during which the consumer has the right to receive more tokens or a portion of the transaction fee. Revolut’s cryptocurrency staking feature supports Ethereum, Cardano, Polkadot, and Tezos.
In 2023, Revolut plans to double the results of our work in 2022 by launching new products and growing globally, said Emile Urmanshin, Revolut’s crypto general manager.
The London-based unicorn has been expanding its cryptocurrency services recently, despite market volatility. In August 2022, the Revolut app was updated with 22 additional currencies, just before the company started actively recruiting in the cryptocurrency space.
After getting permission to use cryptocurrency in EU countries like Cyprus, Revolut launched in September last year after getting full permission from UK regulators.