Revolut Launches Crypto Exchange for Australia; Adds Bitcoin Cash and Litecoin for US Traders
Revolut, a leading European brokerage firm with a foothold in crypto operations, is scaling its services into the Australian market. The company made a debut in Australia last month and will now be offering crypto services tailored to six digital assets, including Bitcoin (BTC), Bitcoin Cash (BCH), Stellar (XLM), Litecoin (LTC), XRP, and Ethereum (ETH).
Following this milestone, Australians will be able to buy, sell, or hold the listed cryptocurrencies through Revolt’s app. The CEO of Revolut Australia, Matt Baxby, noted that their entry in this prospectus market would cut out the complexities of acquiring crypto assets; an initiative that might help onboard more Australians into the crypto market. He said,
“We’re very excited to be adding another feature to our Financial SuperApp with the introduction of our cryptocurrency exchange services. Buying and selling cryptocurrencies can be incredibly complicated and confusing for the uninitiated, which means many Australians don’t know how to access cryptocurrency as an investment option.”
With the Australian crypto market on the rise, Revolut’s crypto exchange launch could come as a big on-ramp solution to prospects in this ecosystem. The latest metrics from CryptoCompare show that the AUD ranks 17th in global BTC trading volume, averaging $6million (528 BTC) within the last 24 hours. It is not surprising that other big players, including Binance and Kraken, also entered this market through acquisitions of local entities that now run the exchanges’ locally.
Revolut Adds LTC and BCH for U.S Clients
Interestingly, Revolut had also increased its U.S portfolio options barely 24 hours before the announcement on launching a crypto exchange in Australia. The firm, which was already operating in the U.S, supported Bitcoin and Ether for clients in this region; it has since added Litecoin and Bitcoin Cash according to a tweet by its U.S subsidiary.
“You asked for it, so we delivered. We've added #BitcoinCash and #Litecoin in the US. US Customers can now buy, hold, and sell Bitcoin Cash and Litecoin at the tap of a button. Check out Crypto in the Wealth tab now.”