Crypto news

Revolut is going to issue its own token

Revolut will launch its own digital token as part of the development of its customer loyalty program. This was announced by the founder of the fintech company Nikolay Storonsky.

According to him, the tokens will be distributed among Revolut users. He explained that the model is similar to the loyalty programs offered by airlines – the more often a customer uses the app, the more digital assets they receive.

“It’s definitely not going to be Stablecoin. The goal is to make loyalty tradable,” Storonsky clarified.

The founder of the company also revealed that the cryptocurrency wallet it is developing will be non-custodial. After registration, the user will receive a sid-phrase and a private key, which will allow to manage assets through any other application.

Storonsky revealed details of the cryptocurrency wallet’s development in April 2022. At the time, he noted that the service will support digital asset stacking and feeder features.

In a conversation with the publication, the head of the company specified that the wallet will work as a standalone application, as well as one of the options in Revolut’s internal hub.

“Initially we will launch the app on Ethereum, but we will introduce support for other networks in the future,” he added.

Storonsky did not disclose a launch date for the project.

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