Revolut and Trust Wallet Partner for Seamless, Self-Custodial Crypto Purchases Across the EU
Fintech giant Revolut and Binance-owned Trust Wallet have joined forces to offer European users instant and fee-free cryptocurrency purchases, with a strong emphasis on self-custody. This new integration allows users to buy digital assets directly into their Trust Wallet, ensuring they retain full control from the moment of acquisition.
Key Takeaways
- Revolut and Trust Wallet have launched an integration enabling instant crypto buys in the EU.
- Purchases can be funded via RevolutPay, debit/credit cards, and bank transfers, with zero fees in some instances.
- The integration prioritizes self-custody, sending crypto directly to users' Trust Wallets.
- Initial support includes Bitcoin, Ether, Solana, USDC, and USDT, with plans for expansion.
A New Era of Crypto Accessibility
The partnership between Revolut and Trust Wallet aims to simplify the process of acquiring cryptocurrencies for European consumers. By leveraging Revolut's payment infrastructure, users can now fund their Trust Wallet accounts instantly. A significant aspect of this collaboration is the direct transfer of purchased crypto into the user's self-custodial Trust Wallet, bypassing the need to deposit funds into a centralized exchange.
This approach empowers users with complete control over their digital assets, a core principle of cryptocurrency. Trust Wallet, a widely used self-custodial application with over 220 million users, provides the secure environment for this direct asset ownership.
Revolut's Expanding Crypto Footprint
This integration arrives at a pivotal moment for Revolut, which has been aggressively expanding its cryptocurrency services. The London-based fintech recently secured a MiCA license through Cyprus, granting it regulatory approval to offer crypto services throughout the European Economic Area. This move signifies Revolut's commitment to compliance and growth within the digital asset space.
Revolut's financial performance has also been robust, with reported revenues of $4 billion and pre-tax profits of $1.4 billion for 2024. The company has also been pursuing global expansion, obtaining new banking licenses in Mexico and Colombia. Furthermore, Revolut has been exploring innovative use cases, such as enabling crypto remittances via the Polygon blockchain in collaboration with Polygon Labs.
Supported Assets and Future Outlook
The initial phase of the Revolut and Trust Wallet integration supports several major cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Solana (SOL), USD Coin (USDC), and Tether (USDT). Both companies have indicated plans to broaden the range of supported assets in the future, catering to a wider array of user preferences and market demands.