Digital payment company Revolut is giving its millions of customers a unique new way to earn cryptocurrency.
The company is launching a new debit card with 1% cash back that can be redeemed in any of the company’s 25 available cryptocurrencies, including Bitcoin, Ethereum, XRP and Litecoin. That 1% is earned on all card transactions made outside of Europe. Transactions within Europe earn 0.1%.
Card holders will also get commission-free trading and a number of additional perks.
“While the new plan already comes packed with a host of exclusive benefits, Revolut will continually improve the package with extra benefits such as wholesale rates at international airport lounges, family accounts, unlimited disposable virtual cards and extra incentives for Revolut’s highly anticipated commission-free trading platform that will launch soon.
The new metal card is fully contactless and has been designed with obsessive attention to detail. At three times the weight of a regular card, Revolut Metal is crafted from a single sheet of reinforced steel using a diamond drill bit. Paint particles have then been layered to the card using a physical vapour deposition, with customers’ details etched onto the card using a high precision laser.”
The London-based Revolut aims to disrupt traditional banking. Its app lets customers buy and sell cryptocurrency, as well as make instant money transfers across borders at the interbank rate in more than 120 countries and over 130 currencies, saving customers as much as eight percent.
Revolut is a runaway success. It has 2.5 million customers with a total transaction volume of over $22 billion to date. The company says it’s signing up 6,000 new customers a day.