Crypto App Revolut Confirms MasterCard on Board for 2019 US Expansion
Cryptocurrency-friendly internet banking app Revolut plans to launch in the United States later this year, the company has confirmed.
MasterCard joins Visa support for Revolut
In a press release on Oct. 22, Revolut said its expanding partnership with MasterCard would allow it to enter the U.S. market by the end of 2019.
United Kingdom-based Revolut has offered consumers both Visa and MasterCard spending since its launch in 2015.
In 2017, it began offering the exchange of three cryptocurrencies: Bitcoin (BTC), Ether (ETH) and Litecoin (LTC). This later increased to five with the addition of Bitcoin Cash (BCH) and XRP.
Unlike its fiat product, however, the crypto exchange facility is not backed by the U.K.’s finance regulator.
U.S. market “huge milestone”
It remains unclear whether Revolut will launch with the same cryptocurrency support as in its European market. Along with the U.S., executives plan to broaden the service’s reach to the Asia Pacific and South American markets.
“Launching in the U.S. will be a huge milestone for us, and we are delighted Mastercard will be our go-to-market partner,” founder and CEO, Nik Storonsky, commented in the press release.
Earlier this month, Revolut also confirmed that Visa would be a partner for its new markets.