Revolut makes a significant breakthrough into the cryptocurrency world by announcing a partnership with MetaMask. The collaboration, dubbed “Revolut Ramp”, allows Revolut’s 40 million users to purchase cryptocurrencies directly via MetaMask using their bank balance, all for low fees.
Revolut unveils “Revolut Ramp” in partnership with Web3 MetaMask wallet
British neo-bank Revolut, already open to cryptocurrencies for several years now, has just announced a partnership with iconic digital wallet MetaMask aimed at simplifying the cryptocurrency buying experience for its users.
Specifically, Revolut’s 40 million or so customers will now be able to use their bank balance to make in-app crypto purchases on MetaMask. In other words, Revolut joins the ranks of MoonPay, Ramp or Transak as a third-party payment provider for MetaMask.
The new service, launched under the name “Revolut Ramp”, is already available.
Screenshot showing Revolut as a third-party in-app payment provider for MetaMask
According to the press release from MetaMask parent company Consensys, the integration is available in the UK and the European Economic Area (EEA).
Revolut customers will be able to use up to 18 supported currencies for their cryptocurrency purchases within MetaMask, whether via their fiat currency balance or via bank card (Visa and Mastercard).
As the press release points out, one of the advantages of Revolut Ramp lies in the absence of identity checks specific to the usual third-party payments, as the bank’s customers are already identified. This simplifies and speeds up the purchasing experience.
Individuals who are not Revolut customers will still be able to select the neobank as a third-party payment processor by completing the usual Know Your Customer (KYC) process.
Objective: democratize and simplify the purchase of cryptocurrencies
According to Lorenzo Santos, Senior Product Manager at Consensys, this partnership is primarily aimed at simplifying the experience of users wishing to buy cryptos simply and securely:
“By teaming up with Revolut, we’re making crypto more accessible and less complicated. This partnership is really about giving our users what they want – more control over their crypto, in a simple way, using platforms they already know and trust. “
An enthusiasm shared at Revolut through the voice of Mazen Eljundi, Global Business Head of Crypto at the neobank, who says Revolut Ramp will offer competitive fees:
“We’re delighted to be launching with a leader in the web3 space, MetaMask. This service guarantees high success rates for transactions within the Revolut ecosystem and low fees for all customers. We will offer customers the ability to purchase more than 20 tokens with their fiat currency smoothly, securely and without hindrance.”
