Hardware wallet provider Ledger announced a partnership with fintech company Revolut to enhance cryptocurrency payment options across the European Economic Area (EEA). The collaboration, revealed on August 14, would expand access to digital assets in the region.
Through the partnership, Revolut is set to become an official buy provider within Ledger’s crypto wallet application, Ledger Live.
The integration will allow Ledger users in 27 EEA countries, including Bulgaria, Denmark, Ireland, Latvia, Malta, and Switzerland, to buy and sell crypto seamlessly through Revolut’s on-ramp service, known as Revolut Ramp.
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Revolut And Ledger To Streamline Crypto
Purchasing
The integration of Revolut into Ledger Live aims to streamline the process of purchasing cryptocurrency, especially for those who already use Revolut’s services. Existing Revolut customers, with KYC checks, can now bypass additional verification steps, enabling them to buy crypto assets almost instantly.
“With more people wanting to participate in the digital asset economy, self-custody will naturally become the focal point as they look to leverage the benefits of crypto,” the companies said in a joint statement.
For new users, the integration offers a straightforward path to crypto trading. Non-Revolut users can quickly complete the KYC process and use Revolut Pay, a new payment method introduced in this collaboration, to make instant payments online using Visa or Mastercard.
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
“We’re delighted to be working with Ledger, a leader in the self-custody space, as we further cement Revolut as the go-to financial app for crypto investors,” Emil Urmanshin, Revolut’s general crypto manager, said. He noted that this collaboration aligns with Revolut’s mission to help people securely and seamlessly onboard to Web3.
The partnership is also a testament to the success of Revolut Ramp, launched in March 2024. The service allows customers to purchase and deposit crypto directly into self-custodial wallets, such as Ledger and MetaMask.
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Revolut Gains UK Regulatory Approval
In July, Revolut gained a banking license in the UK, after navigating a complex three-year approval journey. The UK’s Prudential Regulation Authority, albeit with certain constraints, greenlit the license. This enabled Revolut to expand its banking activities before a full-fledged rollout.
Established in 2015, Revolut has experienced exponential growth, amassing nine million registered users in the UK and a staggering 45 million globally, with operations spanning 35 countries.
The fintech giant garnered a valuation of $33 billion in a 2021 fundraising drive and is currently exploring a share sale estimated at $500 million, potentially propelling its total valuation to around $40 billion, positioning it as Europe’s premier startup, as per PitchBook assessments.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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