Fintech Heavyweights Revolut, Robinhood Gun for More Crypto Profits

Source: AdobeStock / Serg Zastavkin

Big fintech players are stepping up their crypto game to apparently attract new customers for their platforms. UK-based Revolut is backing 11 additional coins, including Cardano (ADA) and decentralized finance (DeFi) offerings like Uniswap (UNI)) – and US-based Robinhood is launching a new crypto recruiting campaign.

Revolut, which operates a neobank, vaults, prepaid debit cards and money transfer services in the UK, previously opened a crypto exchange platform with support for Bitcoin (BTC) as well as major altcoins such as Litecoin (LTC) and Ethereum (ETH) and Bitcoin Cash (BCH) .

However, a recent post claimed that the demand for additional coins was high and it was therefore decided to deliver.

In addition to ADA and UNI, YFI, the native token of the Yearn Finance DeFi initiative, as well as Synthetix (SNX), Uma (UMA), Bancor (BNT), Filecoin (FIL) and Numeraire (NMR-, Loopring- ( LRC), orchid (OXT) and graph tokens (GRT).

With the exception of Filecoin and Cardano, which work on their own blockchain networks, the rest of the time is based on the Ethereum blockchain.

The company has pushed the further introduction of crypto in the so-called “Revolut year of crypto”. A blog post said 2021 would be “a full year to bring you new features, new tokens and a few other surprises”.

The crypto business seems to be booming at Robinhood. Despite the controversial past few months in its core stock trading business, the company’s app saw the number of users of its Robinhood Crypto services increase six-fold in the first quarter of the fiscal year. Reuters reported that 9.5 million users did business with the company’s app.

The company has already announced that it will add crypto deposits and withdrawals for transfers to other wallets in the future.

In its own blog post, the company said it wanted to fill “open roles” in order to expand its crypto team.

There are three types of open positions listed on a specific career page, namely the Crypto Operations team for account management, trading and settlement, and for risk-specialist employees.

The company wrote:

“Robinhood’s crypto team has more than tripled since the beginning of the year and we are continuing to grow. We have hired great tech, security, and compliance staff to quickly and securely scale and create crypto withdrawals and deposits. “

Robinhood added that its founders are “intrigued by blockchain technology” and “the promise” [holds] in democratizing access to global payments. “Crypto’s promise of an” open and decentralized global financial system “is” heavily aligned with Robinhood’s mission, “added the company, adding that” democratizing cryptocurrency trading is a natural next step. “

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Learn more:
– PayPal, Square, Revolut, and Robinhood: A Crypto Comparison
– Revolut makes important changes to the crypto and points out new “cool features” (UPDATED)
– Revolut brings Bitcoin without a private key to more than 10 million users
– ‘Crypto-friendly bank’ blocked your money? Good luck with restoring
– Robinhood now also limits crypto trading
– Elon Musk just asked Robinhood CEO these questions – Here are his answers
– A Reddit army is blurring the line between crypto and traditional finance
– DeFi ‘Genie Is Out’ and is set to grow in 2021

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