The Fintech Revolut startup launched a cryptographic debit card. The card is only available for premium customers at the moment.
The card sports a fresh, brushed metallic look, has a Revolut logo in the corner and the cardholder's name in another corner.
The Revolut Metal manages about £ 12.99 a month or £ 120 a year. It is more expensive than the Revolut Premium which costs £ 6.99 per month or £ 70 per year
It comes with additional benefits that make it worth the subscription. In the foreground, allows holders up to 1% cash back on transactions outside Europe and 0.1% on transactions completed in Europe.
In addition, users can withdraw the balance in either fiat (USD, EUR, CAD, etc.) or different cryptocurrencies, including Bitcoin, Ethereum and Litecoin.
In addition, customers of Revolut Metal cards have a higher ATM withdrawal limit. They can withdraw amounts up to € 600 / £ 600, all without paying any commission. In comparison, users of the premium cards are entitled to a free withdrawal up to € 400 / £ 400.
Other benefits include free medical insurance abroad, delayed baggage and flight insurance, free exclusive concierge service, cards disposable virtual and 24/7 customer support.
Revolut is a UK-based startup that launched in 2015. The founders of this rapidly growing company are Vlad Yatsenko, Chief Technical Officer, and Nikolay Storonsky, who is the current Chief Executive Officer.
The service enables customers can trade up to 29 different currencies, including a certain number of cryptocurrencies.
As a result, company services have become very popular with people traveling around the world and the release of metal paper is bound to increase its demand.
CEO Nikolay Storonsky said the launch of their metal card marks an important step in their efforts to generate additional revenue.
"[It is an important step] <…> as we prepare to launch a commissionless trading platform and expand operations in North America and Asia by the end of the year."
You can transact in five major cryptocurrencies in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and Bitcoin Cash (BCH). Customers also have the freedom to perform an in-app exchange of up to 25 fiat currencies.
The Metal card will offer users unlimited volumes of foreign currency. A new card holder will be able to spend, transfer or exchange unlimited amounts of money from anywhere.
They will also enjoy this service at existing bank rates, all without taxes.
Revolut's new offering has also attracted MasterCard Ireland and the United Kingdom.
According to Darren Deal, VP of prepaid cards to the global giant, the partnership with the startup was as easy as what they offer is convincing.
The rise of Revolut is a great development for cryptocurrency users who want to use their digital resources via debit card. Complete the efforts of companies like MinexSystems and Beldex that have implemented cryptographic debit cards.
Even so, development in the industry is still slow following the decision by Visa to cancel a partnership with Wave Crest, a payment processor that tried to launch cryptocurrency debit cards for TenX and CryptoPay.