Revolut, a leading fintech company based in the United Kingdom, has formed a strategic partnership with Ledger, a prominent provider of crypto-focused hardware wallets, to make digital asset purchases more accessible for users in select European countries.
In an announcement on Wednesday, Revolut revealed that it will integrate its app with Ledger Live, the software that powers Ledger’s hardware wallets. This integration will allow Revolut users to directly purchase Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies supported by the platform through the Ledger Live app.
Expanding Access to Crypto Investments
The new collaboration is part of the company’s broader mission to onboard new users into the crypto economy. According to the announcement, the partnership aims to streamline the process of acquiring crypto assets for investors in select countries within the European Economic Area (EEA).
Existing Revolut users in this region who have already completed the mandatory Know-Your-Customer (KYC) verification process can start buying their preferred digital assets directly on the platform using their bank cards.
We’re excited to announce that @RevolutApp is now available as a buy provider through Ledger Live!
With your Revolut account or card, you can now buy your crypto and have it instantly secured with your Ledger wallet.
Read more at: https://t.co/0YFvrnm6yU pic.twitter.com/BUsqbPPsTA
— Ledger (@Ledger) August 14, 2024
For new users, Revolut said they can complete the KYC process using Visa or Mastercard to begin purchasing cryptocurrencies.
Commenting on the partnership, Pascal Gauthier, Chairman and CEO of Ledger said the deal will make users “feel more confident” in accessing the Web3 economy.
“Revolut shares our deep commitment to improving user security and accessibility throughout the crypto ecosystem. Now, even more users will feel confident transitioning from Web2 to Web3 and realize the value and power of self-custody,” he said.
Revolut Adds Support for MetaMask
Revolut has been actively working to provide new users with options for making their first crypto purchase. In March, the company partnered with MetaMask, a self-custody Web3 wallet initially designed for the Ethereum ecosystem but later expanded to support other blockchains.
This collaboration allowed the company to integrate Revolut Ramp into MetaMask, enabling customers to quickly on-ramp and purchase new tokens directly into their MetaMask wallets.
Customers can use their fiat currency balance, held in 18 different local currencies within their Revolut account to purchase digital assets. They can also pay with their Visa or Mastercard bank cards.
In addition to these efforts, Revolut recently announced the official launch of its centralized exchange called Revolut X. The platform, which has been in the works since 2021, is currently available to professional investors only, with plans to expand access to retail traders in the near future.
The Revolut-owned exchange offers investors the opportunity to swap fiat currencies, such as British pounds, for crypto at no additional cost for makers. Although, a fixed transaction fee of 0.09% applies for takers.
