Fintech startup Revolut is helping its users diversify their portfolios in the midst of a global financial meltdown. The financial platform that allows users to buy cryptocurrency is adding a new feature for premium users. Premium and Metal customers now access gold exposure from the Revolut app.
The fintech company is teaming up with the London Bullion Market Association to ensure that the money invested by users in gold exposure is backed by actual, physical gold. Users can access gold exposure through the app’s new commodities functionality.
The company’s precious metals product owner, Ivan Chalov, says that Revolut is limiting the barriers to entry to gold.
“Much like investing in the stock market, many have felt closed off from obtaining access to gold, finding it difficult to know where to begin. We’ve made sure that obtaining access to gold exposure is as simple and low cost as possible, with users being able to trade at amounts that suit them.”
By using fiat currency or cryptocurrency, the platform’s users can input the amount they want to invest. The app displays the available amount of gold exposure based on the current market price. Users can also convert their gold exposure to cryptocurrency or fiat currency at any time.
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