The cryptocurrencies in question are Cardano’s ADA, Polygon’s MATIC, and Solana’s SOL, but it’s worth noting that support for these cryptocurrencies will still be provided outside of the US. For US-based users, this means that they will no longer be able to buy these three tokens and will have to sell their holdings by September 18. Otherwise, the platform will automatically liquidate all positions with any of these three tokens once the deadline has been met.
The move comes in the context of Binance and Coinbase’s issues with the US Securities and Exchange Commission, which referred to these tokens as unregistered securities according to financemagnates.com. Other companies that view these tokens as unregistered securities include eToro and Robinhood, both of which have also delisted several cryptocurrencies.
Revolut has been offering cryptocurrency trading since November 2017, and it has recently lowered its trading fees from 1.99% to 1.49%. Moreover, the company’s 'premium' and 'metal' customers will benefit from even lower fees, from 1.49% to 0.99%, to be precise.
Revolut has been expanding to various parts of the world in 2023, including Brazil and New Zealand.
The company made its first foray into Latin America in May 2023 by launching in Brazil and providing consumers with a multi-currency account with remittance capabilities for 27 countries, as well as a card accepted in over 150 countries. Brazil-based clients can also convert foreign currencies at any around the clock, seven days a week.
In the same month, Revolut launched Revolut Business in Australia to support SMBs in the context of the cost-of-living crisis. Revolut Business offers companies of all sizes access to fast, affordable, and efficient solutions that aim to assist with finance management while improving the way companies do business.
In July 2023, Revolut entered the New Zealand market to offer Kiwis an improved digital experience and to drive market competition.
As a result of this expansion, Kiwis gained access to Revolut and its instant and fee-free foreign currency exchange, as well as peer-to-peer payments and split group bills. Customers also gained the ability to send and spend in over 200 currencies around the world with no hidden fees. According to the press release, multiple Kiwis have registered in order to join the Revolut platform by signing up to a waitlist, which took place over a 12-month long test period.
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