Last updated on November 1st, 2021 at 05:21 pm
Revolut, a cryptocurrency exchange firm, is taking measures to bolster its business in the United States.
In order to drive awareness and bolster its business activities, the fintech company has begun offering transaction-free services to customers in the U.S.
The company, which launched in the U.S. in March 2020, will henceforth offer free services for up to $200,000 worth of trades.
Revolut, previously, allowed users to trade only $200 worth of crypto per month before incurring charges. But with the new changes, users will be able to trade a certain amount monthly and open up to five Revolut accounts for their kids without being charged a dime.
Revolut also announced on Monday that part of the free services will cover up to $1,200 of out-of-service ATM withdrawals. The company will also let users make up 10 free international transactions covering 30 countries. Some of these countries include Australia, Japan, and France.
The company had previously billed customers fees of about 1.5% to 2.5% per transaction. Revolut is ready to let all of these fees go to sink its name in the minds of many crypto enthusiasts in the U.S.
Ron Oliveira, Chief Executive Officer of Revolut in the U.S., said, “We had a very quiet opening. Now it’s about where we are going from here. What we’ve discovered is that we have the deepest and widest offering of any fintech in the United States today.”
According to the CEO, Revolut has about 300,000 active users in states like California and Arizona where its remittance services are quite popular. While the company’s biggest market remains the United Kingdom, where it first started, Revolut has a major goal of making the United States its second-largest market.
