Digital Bank Revolut to Allow Customers to Make Purchases With Crypto Balances

The fintech firm recently won registration from the U.K.'s financial regulator to offer crypto services.

By Michael Bellusci

Oct 27, 2022 at 5:48 p.m. UTC

Updated Oct 28, 2022 at 7:47 p.m. UTC

CDCROP: REVOLUT app on smartphone (A. Aleksandravicius/Shutterstock) — Revolut is adding a crypto spending feature to its app. (A. Aleksandravicius/Shutterstock)

Michael Bellusci

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Follow @mikeybellusci on Twitter

Digital banking firm Revolut is adding a crypto spending feature that will enable customers to use their crypto balance to pay for everyday purchases using their Revolut card.

The service will be available starting on Nov. 1, and for a limited time, customers will also be able to earn 1% cash back on all their crypto balance spent, according to a company notice.

Revolut's new feature comes after the U.K.-based firm won registration from that country's Financial Conduct Authority to offer crypto services in the U.K. following a lengthy wait to gain approval.

The platform offers in-app trading of more than 30 digital currencies for its more than 20 million personal users, according to its website.

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