The self-custody cryptocurrency wallet Trust Wallet, owned by Binance co-founder Zhao Changpeng ("CZ"), has reached a strategic partnership with European fintech unicorn and digital banking giant Revolut to introduce a new channel for cryptocurrency purchases for its platform users.
Trust Wallet announced on Thursday that users can now purchase Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) through a direct integration with Revolut.
The minimum purchase amount for this service is €10 ($12), with a daily and per-transaction limit of €23,000 ($26,950). This new purchasing option is expected to provide European users with a more convenient and efficient way to acquire cryptocurrencies.
In October of this year, Revolut received regulatory approval from the Cyprus Securities and Exchange Commission to offer cryptocurrency services in 30 European Economic Area markets, based on compliance with the EU's regulatory framework for crypto assets (MiCA).
Revolut has now become one of the many deposit channels available to Trust Wallet users, allowing them to purchase cryptocurrencies and deposit them directly into their self-custody wallets. Other channels include MoonPay, Mercuryo, Binance Connect, Topper, AlchemyPay, Ramp, Paybis, and Swapped.com.
Trust Wallet's Chief Executive Eowyn Chen revealed to Cointelegraph that currently, MoonPay, Mercuryo, and Ramp are the only three withdrawal channel options available.
"Partnering with one of Europe's largest emerging banks, which has over 65 million verified users, allows Trust Wallet to provide users with a seamless and cost-effective way to top up their wallets and acquire cryptocurrencies," Chen stated, adding:
According to the official announcement, BTC, ETH, and SOL are the three cryptocurrencies supported in the initial phase of this integration, but both companies indicated that they plan to add stablecoins, including Circle's USDC, in subsequent phases.
This feature supports zero-fee cryptocurrency purchases using various fiat currencies supported by Revolut, including euros, pounds, as well as Czech koruna, Danish krone, and Polish zloty.
While the Revolut-Trust Wallet cryptocurrency purchase offers zero-fee services, in most cases, topping up a Revolut account is not free, including methods such as bank transfers, card top-ups, and cash deposits. According to Revolut's official FAQ, cash deposits incur a 1.5% fee, with a monthly limit of $3,000.
This integration follows Revolut's completion of a private equity sale at the end of November, establishing a company valuation of $75 billion. Revolut stated on the X platform: "This makes us the most valuable private company in Europe and places us among the top ten most valuable private companies globally."
Supported by CZ, Trust Wallet has been actively expanding into popular market areas, including prediction markets and the tokenization of real-world assets, to enhance the availability of these innovative products for self-custody users.
Cointelegraph reached out to Revolut and Trust Wallet for comments on this integration, but had not received a response by the time of publication.
Related: Poland submits rejected crypto bill again, with content largely unchanged
Original article: “Trust Wallet Partners with Revolut to Enable Cryptocurrency Purchases in Europe”
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