British fintech company Revolut has entered into a partnership with Fireblocks, a platform that enables customers to securely transfer cryptocurrency assets.
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According to Fireblocks, Revolut is working on new crypto-focused services for its 13 million global retail customers.
Revolut Head of Crypto, Ed Cooper, says Fireblocks gives Revolut "a competitive edge over other financial applications because it enables us to rapidly add more advanced crypto features as the space continues to evolve at breakneck speed."
Thanks to Fireblocks’ multiparty computation-based wallet infrastructure and network, Revolut can add additional product lines and retail-facing capabilities, and bring more crypto services to the platform.
What kind of crypto services Revolut is working on, remains unknown.
"With Fireblocks support, Revolut can now efficiently scale the framework of its crypto services by streamlining storage, liquidity access, and settlements while maintaining governance and compliance," states an official announcement.
Earlier in June 2020, Revolut partnered with New York-based crypto startup Paxos to launch crypto trading services in the US.
The fintech startup uses the newly launched Paxos Crypto Brokerage service, a new product offering that allows companies to integrate crypto buying, holding and selling capabilities into their own applications.
Specifically, Paxos handles all regulatory compliance and technical aspects of the service, while Revolut itself provides the service directly to customers.
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