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Growing crypto adoption is spurring innovation across sectors, especially in global finance and trade. Revolut Ramp will now be available to users in EEA and the UK.
Revolut and MetaMask’s partnership allows users to use Revolut Ramp to buy cryptocurrencies directly into their MetaMask account in European Economic Areas (EEA) and the United Kingdom.
Revolut offers global banking and payment services in cryptocurrencies and fiat currencies.
Revolut And MetaMask Are Market Leaders
MetaMask and Revolut aim to develop a more accessible ecosystem for adding crypto to self-custody wallets with this alliance. Revolut has 40 Million plus customers while MetaMask is one of the world’s largest self-custodial wallets.
Per the agreement, users can utilize their traditional currency in the Revolut account and can also use Mastercard and Visa Cards. Revolut is accessible in the US.
The Global Business Head of Crypto at Revolut, Mazen Eljundi, said after the partnership, “We are excited to announce our new crypto product, Revolut Ramp, a leading on-ramp solution for the web3 ecosystem. Our on-ramp solution ensures high success rates for transactions within the Revolut ecosystem and low fees for all customers.”
Eljundi added, “We are delighted to partner with a leader in the web3 space, MetaMask. We will offer customers the possibility to buy more than 20 tokens with their fiat currency smoothly, securely, and without friction.”
The Senior Product Manager at Consensys, Lorenzo Santos, said, “By teaming up with Revolut, we’re making crypto more approachable and less complicated. This partnership is about giving our users what they want – more control over their crypto, in a straightforward way, using platforms they already know and trust. It also plays a crucial role in fostering broader crypto adoption, opening up the world of crypto to more people.”
Crypto Market Update
Konstantin Ignatov, the brother of the OneCoin founder, has been set free after he completed a prison sentence of 34 months (2 Years and 10 Months). OneCoin, the project that led to losses of billions of dollars in crypto, was co-founded by Ruja Ignatova, popularly known as the Cryptoqueen.
ShapeShift, a cryptocurrency exchange that is facing heat from the SEC, is reentering the cryptocurrency sector again. Soon after the regulatory commission’s notification, the firm paused its operation in 2021.
In a March 05, 2024 filing, the SEC said it might accept the settlement of the exchange, which includes a $275,000 fine and an agreement that it will not violate the Securities Exchange Act again.
Price Update
The industry’s market capitalization grew by over 50% in the past six months. At the time of writing, the market cap was $2.5 Trillion. The market leader, Bitcoin, has surged more than 199% in the past 365 days, smashing its November 2021 ATH on March 5th.
According to dozens of market analysts, the growth of Bitcoin is fully backed by the recently approved BTC spot ETF. The 4th BTC halving will likely occur in April 2024; the event will divide the mining reward in half of what was rewarded to miners earlier.
Similarly, Ethereum, the second most prominent crypto in terms of market capitalization, has crossed the milestone of $3,600. Notably, the growth of Ethereum is also influenced by the speculations about approval for the Ether spot ETF.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
