Revolut to ‘launch crypto token’

Revolut reportedly has plans to launch its own crypto token.

According to sources at CoinDesk, the FinTech is working on an exchange token similar to Binance’s BNB, rather than a stablecoin.

The London-based company, which is currently worth £33 billion, already offers cryptocurrency buying as part of its service.

“It’s a ‘Revolut users earn a token’ type of thing, similar to Wirex and Nexo,” the source said, referring to the card issuer’s WXT token and the crypto lender’s NEXO.

They told the news site that the move is subject to approval from the UK’s financial watchdog.

Another source revealed that at the moment the plans are focused on Europe and other countries outside of the US.

Revolut declined to comment.

Last week the business announced that it is paying for a new US office in cryptocurrency.

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