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Revolut Contemplates Adding Dogecoin to Their Digital Banking Platform

Revolut Contemplates Adding Dogecoin to Their Digital Banking Platform
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Yerevan (CoinChapter.com) — Revolut, a financial technology company based in London that offers digital banking services, is contemplating adding Dogecoin to its platform, sources close to the company have revealed.

The news of the possibility of Dogecoin’s inclusion in the $5.5 billion digital bank’s platform came days before Elon Musk’s much-anticipated hosting gig on Saturday Night Live (SNL), NBC’s Emmy Award-winning late-night comedy show that boasts of being the “most-watched season in four years based on total viewers with an average of 12.6 million across 17 episodes to date”. 

The Tesla CEO has been instrumental in the rising popularity of Dogecoin. Anticipations of a possible mention of the cryptocurrency by Musk on the show had added to the meme-based cryptocurrency’s traction, with many investor’s willing to cash in with hopes of making a quick buck. Musk later announced that his space technology company SpaceX would accept Dogecoin as payments.

Dogecoin Goes Global

Should Revolut’s plans to include Dogecoin on its platform’s crypto trading tool materialize, it would further help in cementing the cryptocurrency’s presence in the market. Revolut’s in-app cryptocurrency exchange is available to all users in the entire European Economic Area (EEA), comprising 30 countries and other parts of the world, including the United Kingdom, Australia, Switzerland, Canada, Singapore, and the United States.

Further adding to Dogcoin’s prospects of expansion through Revolut’s platform is the company’s European Banking License issued by the Bank of Lithuania. The approval has assisted Revolut in operating as a bank in 10 Central European Countries, including Bulgaria, Cyprus, Croatia, Estonia, Greece, Latvia, Malta, Romania, Slovakia, and Slovenia. The company has also applied for banking licenses in other major markets, including the United States and the United Kingdom.

Revolut has already added a number of cryptocurrencies to its platform and has even started allowing direct crypto withdrawals in an attempt to provide customer-friendly and appealing services to its users. It also plans to allow customers to earn income on their funds using their platform, a move that could further help in proving the company’s undisputed position as a strong player in the crypto market. 

Should Dogecoin succeed in finding a place on the Revolut platform, it would be yet another reason why the cryptocurrency, which started as a joke, should be taken seriously. 

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Karen Mkrtchyan

Yerevan-based Editor and writer focusing on topics about politics and international relations. Having completed his Bachelors and Masters degrees from Delhi's Jawaharlal Nehru University, he currently works as a Projects Coordinator at Indo-Armenian Friendship NGO and the Indian Cultural Centre, Armenia. He regularly writes articles for Armenian media platforms and is the English language Editor of Keghart, a reputed Armenian Diaspora news platform based in Canada. As a young activist, he was awarded "The Best Active Youth International Award" by the Afghanistan Youth Parliament. He is also the Media in charge of the Youth Wing of Bright Armenia Party, the third-largest political party in the Armenian Parliament.

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