Digital payment solutions giant Revolut has announced integration with Ledger Live, a popular platform for managing digital assets. This partnership promises to make cryptocurrency purchases easier, faster, and more secure.
Direct Crypto Purchases
This collaboration enables Revolut users to buy cryptocurrencies directly through the Ledger Live app. According to the fintech firm, the new service aims to make digital asset management more accessible and safer for users. It also allows users to convert their fiat currency into cryptocurrencies within the Ledger Live app, bypassing additional identity checks and multiple verifications.
Commenting about the integration, Pascal Gauthier, the Chairman and CEO of Ledger, said: “Cryptocurrency is inevitable, and allowing people to buy and sell digital assets securely and with self-custody is paramount as more people enter the market, Ledger is excited to introduce this integration to Revolut customers; our partnership showcases the continued growth of Ledger’s transaction business.”
He added, “Revolut shares our deep commitment to improving user security and accessibility throughout the crypto ecosystem. Now, even more, users will feel confident transitioning from Web2 to Web3 and realize the value and power of self-custody.”
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
Purchasing Crypto via Ledger Live
The process of purchasing cryptocurrency via Ledger Live using a Revolut account starts with opening the Ledger Live app and navigating to the “Buy” section on the main dashboard. Users can then select the cryptocurrency they wish to purchase, specify the amount, and choose Revolut as their payment option.
Last month, Revolut obtained a UK banking licenseafter three years of waiting. The Prudential Regulation Authority granted thefintech firm the license but with restrictions, Finance Magnates reported. This approval enables Revolut to focus on its banking operations before a gradual full-scale launch.
Meanwhile, Revolut reported a significant boost in profit for 2023. The digital banking platform posted a pre-tax profit of £438 million, representing a substantial turnaround from its £25.4 million loss in the previous year. The company's revenue soared 95% to £1.8 billion, compared to £922 million reported a year earlier. Interest income accounted for 28% of the total revenue.
This article was written by Jared Kirui at www.financemagnates.com.
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