coinculture.com
UK-based neo-banking platform Revolut currently serves over 25 million users globally and will launch a crypto-staking service for its U.K. and European Economic Area (EEA) users.
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As reported by news agency AltFi, the new feature will go live this week, enabling users to earn a source of income from their digital assets during its “soft testing” stage. Currently, the staking feature is available for ETH, ADA, XTX and DOT, with unguaranteed yields from 2.99% to 11.65%.
Over the last few years, the digital bank Revolut has incorporated virtual currencies into its financial services. In 2017, its crypto trading services were introduced, contributing significantly to its revenues. Currently, the firm’s trading service is available for about 100 coins, and its users can make purchases using the coins they hold.
The company also offers free ‘Learn & Earn” courses with learning rewards to help its users to learn more about blockchain and cryptocurrencies.
In September 2022, along with 37 other firms in the country, Revolut was added to the U.K. Financial Conduct Authority’s list of authorised firms offering crypto products and services. It partnered with 37 other firms.