Payment Provider Revolut Raises $66 mln, Adds Bitcoin, Other Crypto ‘Next Week’

Payment Provider Revolut Raises $66 mln, Adds Bitcoin, Other Crypto ‘Next Week’

UK-based payment provider Revolut has raised $66 mln in Series B funding to fund expansion into cryptocurrency exchange. Revolut, founded two years ago by ex-Credit Suisse trader Nikolay Storonsky, aims to compete with bank-issued credit and debit cards by offering multiple currencies and fee-free international transfers. “As early as next week,” Bloomberg reports, the startup aims to launch a feature allowing its users to “hold, exchange, spend and transfer virtual currencies such as Bitcoin, Litecoin and Ethereum for free.” “Adding cryptocurrencies and the ability to buy and sell them is....


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Quotes

The Bitcoin protocol has immense intrinsic value as a self-regulating frictionless payment network affordable to almost anyone. Here is a technology that allows anyone to send any amount of money to anyone else in the world at virtually no cost with nothing more than an Internet connection or smart phone. Bitcoin, like the Internet, is one of those innovations that can break down barriers; information barriers in the case of the Internet, and financial barriers with Bitcoin.

Dan Roseman, Financial Professional