Nikolay Storonsky, founder of Revolut, has said the company intends to launch its own digital token as part of the development of a customer loyalty program, The Block has reported.
According to him, the tokens will be distributed among Revolut users. Storonsky has explained the model is similar to loyalty programs offered by airlines: the more the customer uses the app, the more digital assets they receive.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
He has said:
"It definitely won't be a stablecoin. The goal is to make loyalty tradable."
The company's founder has also said the cryptocurrency wallet it is developing will be non-custodial. Upon registration, users will receive an initial passphrase and a private key that will allow them to manage their assets through any other app.
Storonsky revealed in April the company's plans to develop a cryptocurrency wallet. He later noted the service will support digital asset staking and landing functions.