Trust Wallet, the non-custodial crypto wallet owned by Binance co-founder Changpeng “CZ” Zhao, has collaborated with European fintech powerhouse Revolut. The collaboration will enable Trust Wallet users to purchase Bitcoin (BTC), Ether (ETH), and Solana (SOL) using the Revolut platform. This was announced on Thursday and will result in easier and quicker crypto purchases in Europe.
Users may proceed to purchase crypto beginning with 10 euros ($12) and up to 23,000 ($26,950) each day. The integration enables a smooth entry into crypto assets for users, making it easier to buy. The integration eliminates the hassle of traditional procedures, allowing direct access to self-custody wallets.
Revolut has already obtained the necessary regulatory authorization from the Cyprus Securities and Exchange Commission to provide crypto services in 30 European Economic Area (EEA) markets.
This authorization provides assurance that Revolut is observing the European Union Markets in Crypto-Assets Regulation (MiCA) framework. The integration enhances the role of Revolut as a European crypto giant.
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Eowyn Chen, the CEO of Trust Wallet, highlighted the importance of a partnership. By partnering with Revolut, which has more than 65 million verified users, Trust Wallet is able to provide an affordable solution for users to fill up their wallets, she said. The large user base of Revolut will be a great avenue to cover a broad market of users in Europe.
The integration currently supports the purchase of BTC, ETH, and SOL. Nevertheless, stablecoins such as USDC will be incorporated in updates by both companies. Users will have zero-cost crypto purchases, which may be made with a variety of fiat currencies, including the euro, British pound, Czech koruna, Danish Krone, and Polish Złoty.
Digital assets are purchased free of charge, but there are fees imposed on specific deposit types. For example, cash deposits have a fee of 1.5% and a limit of $3,000 in any single calendar month. Bank transfers and card top-ups can be subject to charges as well, as explained in the FAQs of Revolut.
This announcement follows a recent valuation of Revolut at over $75 billion after a secret share sale in November. The success of the fintech giant makes it one of the most valuable tech and financial companies in the world.
Source: Revolut
Trust Wallet, with CZ’s support, is still growing its business, exploring new areas such as prediction markets and real-life asset tokenization.
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