British financial services company Revolut has just completed a new funding round, pulling in $500 million. Now with a $5.5 billion valuation, the company plans to spread its tentacles to the U.S. and make its offerings available everywhere in each state.
The company is already one of Europe’s largest fintech establishments and has high utility there. It is also pro-crypto as it gives its customers access to five digital assets including Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC) and Bitcoin Cash (BCH). Customers can easily exchange any of these assets to any of the 29 supported fiat currencies. With the new funding, Revolut now plans to expand to all 50 states in the U.S.
In a conversation with Cointelegraph, Revolut general manager for North America Dan Westgarth suggests that the company is properly studying the American landscape. Dan has said that Square’s Cash App is the most worthy competitor in the country.
Dan also spoke in favour of tokens that are backed by an asset. He believes they are more attractive to investors who want to limit risk as much as possible. According to him:
“It’s easy to buy stocks or bonds, even cryptocurrency, but for an unsophisticated investor to gain exposure to commodities is almost impossible. So, if there was a token pegged to diamonds or gold, this could be very appealing.”
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