Revolut and Trust Wallet Collaboration
Revolut has announced its collaboration with Trust Wallet, allowing users in the European Economic Area (EEA) to buy cryptocurrencies and store them directly in self-custody wallets. This innovative integration aims to simplify the cryptocurrency purchasing process while maintaining compliance with the EU’s Markets in Crypto-Assets (MiCA) regulations, offering certain transactions free of charge.
Features of the New Integration
With this new feature, Trust Wallet users can seamlessly purchase popular cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Solana (SOL), USD Coin (USDC), and Tether (USDT), which are immediately transferred to their individual wallets. Unlike conventional options where assets might be held in a custodial wallet temporarily, this setup ensures instant ownership.
Payment Mechanics
The mechanics of the integration leverage Revolut’s robust payment system, enabling multiple modes of payment such as Revolut Pay, credit or debit cards, and bank transfers directly within the Trust Wallet app. Users should note, however, that while certain purchases may be entirely fee-free, standard blockchain gas fees will still apply, and overall costs can differ based on individual Revolut plans and the chosen payment methods.
Significance of the Partnership
The partnership is significant as it reflects Revolut’s recent achievement in securing a MiCA license, positioning the company to offer comprehensive crypto services across the EEA under a unified regulatory structure. Plans to expand the range of available cryptocurrencies within the platform have also been hinted at by the companies. This exciting new service represents a significant step towards promoting accessibility within the cryptocurrency market in Europe.
