Revolut unveils new crypto friendly metal debit card

Revolut has hailed the launch as an important step towards generating additional revenue

London-based FinTech unicorn Revolut is launching a new metal debit card.

Users can earn up to 1% cashback on payments in any of Revolut’s 29 supported currencies, including Bitcoin, Litecoin and Ether. They can also withdraw up to £600 per month in free international ATM withdrawals and take advantage of a dedicated concierge service for booking everything from flights to festival tickets.

Unlimited foreign exchange is also available, along with free international money transfers, 24/7 priority customer support and overseas travel insurance that will cover the likes of health, dental, flight and luggage delays.

It costs €13.99 per month or €135 per year (£12.99 per month or £120 per year). The basic premium subscription costs €7.99 per month or €82 per year (£6.99 per month or £70 per year).

“We are absolutely convinced that Revolut Metal will be the exclusive card of the future, and an absolute must for travellers worldwide,” said founder and CEO Nik Storonsky. “The launch is also an important step towards the company generating additional revenue, especially as we prepare to launch a commission-free trading platform and expand the business into North America and Asia later this year.”

The new card is fully contactless and has been designed with “obsessive attention to detail”, he adds.

Darren Deal, Vice President of Prepaid Cards at Mastercard UK and Ireland, comments: “We are excited to partner with Revolut on its prestigious new Metal card. From its unique look and feel, to its impressive range of cardholder benefits, combined with Mastercard’s trusted global acceptance it becomes a compelling offer to all regular overseas travellers.”

Crypto firsts

In May, Coin Revit reported that Revolut, which last year became the first banking app to let customers invest in Bitcoin, along with Litecoin and Ethereum, was now throwing Ripple (XRP) and Bitcoin Cash into the mix.

It said that “hundreds of thousands” of its 1.8 million customers had invested in virtual currencies since the service was launched in December. Vlad Yatsenko, Co-founder and CTO, Revolut, commented: “We’ve been asking the Revolut community which cryptocurrencies they would like to see next, and the demand for both XRP and Bitcoin Cash has been absolutely overwhelming. After months of negotiation and development work, we’re incredibly excited to offer exposure to these two digital currencies to the UK market.”

Also this year, the FinTech rolled out Vaults which allows clients to round up their card transactions to the nearest whole number and convert all their spare change into cryptocurrencies. More than 50,000 have so far signed up. Yatsenko said: “We launched this world first feature in order to offer frictionless exposure of cryptocurrencies to the mainstream population. The idea of exchanges, private keys and cold storage is a complete turn off for some people, so we wanted to offer a simple way for consumers to get exposure in this area.”

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