$ 20,409.00
$ 1,170.66
$ 0.999375
$ 0.464245
$ 0.328092
$ 1.00

Revolut CEO Says Future Native Token to Reward Loyalty of Users

The native currency of Revolut will not be a stablecoin but it does have an aim to make loyalty tradeable, said the CEO.

CEO Nik Storonsky revealed in an interview that Revolut’s proposed native cryptocurrency will attempt to award clients for their loyalty, as well as specifics on the upcoming non-custodial wallet of the neobank.

At the Finance FWD conference in Hamburg Storonsky said that the long-rumored currency, supposedly called “Revcoin”  will work similarly to airline Air Miles programs, wherein users receive benefits according to how frequently they use the services provided.

The native currency of Revolut will not be a stablecoin but it does have an aim to make loyalty tradeable, said the CEO. Furthermore, Storonsky stated that the business is working on a non-custodial wallet, in which users are given the seed phrase and private key and are given the ability to attach to other wallets in their possession which are decentralized. 

Revolut at the time being allows consumers to store cryptocurrency in a custodial wallet, in which the private keys are handled by a private entity, and Bitcoin (BTC) has been the single cryptocurrency that can be exported to an outside wallet. Storonsky verified prior claims that the financial application’s custodial wallet will include staking, deposits and withdrawals, and lending.

The non-custodial wallet will be offered as a separate app as well as a feature within the Revolut in-app hub, that also includes a variety of services such as pet insurance, hotel booking, and remittances. Per the Revolut founder, there are intentions to add the capability for non-fungible tokens (NFTs) to the wallet, however, this is presently not a priority.

Although the wallet would function analogously to MetaMask, the wealthy Revolut founder intends to make it straightforward and practical for the customer. As a result, the intricacy of several blockchain networks and bridges that certain cryptocurrency-native wallets display will be concealed.

The CEO further said that Revolut wants to ensure that cryptocurrencies can be transferred in the same manner as in bank accounts but they initially will start on one chain, namely Ethereum, and expand as they go. There are more things yet to be announced. 

Also read:

Related News

Meta Continues With Its NFT Plans

Meta stated that its other cryptocurrency initiatives are proceeding according to schedule after announcing the end of its Novi project. Non-fungible tokens (NFT) have been developing for a while by the company. The Novi initiative, which enables remittances and international money transfers, will shortly be shut down, the company announced recently. According to the company, the project will no longer operate as of September 1. Users of Novi were informed

Read More »

Bitcoin’s Lightning Network Now Available for Argentina From OpenNode Partnership With Lemon Cash

OpenNode, a supplier for Bitcoin payments, has teamed with Lemon Cash, a well-known Latin American bitcoin wallet service. The wallet’s cooperation with OpenNode allows over 1 million Lemon Cash users to now access Bitcoin’s Lightning Network. “This partnership is yet another example of our capability and belief in Bitcoin as the new base layer for global payments… We’re proud to support Lemon’s mission and its desire to scale and benefit

Read More »
LuckyBlock is a worldwide game and competition platform with play to earn rewards using blockchain protocols. They have already given many prizes to the participants of the game.

Lucky Block Partners with Crypto Academy

Lucky Block has partnered with Crypto Academy, as we look forward to many updates and launches ahead.  Lucky Block has reached a partnership with Crypto Academy, the renowned Crypto Marketing Agency, and Informational and Educational portal. With an incredible success rate in helping cryptocurrency-focused startups grow in the industry, the partnership with Crypto Academy is a stepping stone in the exciting journey ahead for Lucky Block. LuckyBlock is a worldwide

Read More »

My Coins

$ 20,409.002.63%
$ 1,170.664.47%
$ 0.4642452.97%
$ 0.9993750.08%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy


Contact Us

For any question conatct us through:

Disclaimer: All information and materials on this website are for educational purposes only. does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: