Revolut’s New Zealand users can now trade major cryptocurrencies like Bitcoin through the Revolut app and access educational resources. Image by boumenjapet, Adobe Stock.
London-based fintech firm Revolut has launched cryptocurrency trading services in New Zealand. Starting today, customers in the country can buy, sell, and hold over 100 different digital currencies on the Revolut app.
The launch provides New Zealanders with a new avenue to gain exposure to digital currencies as crypto adoption is growing worldwide. Revolut first enabled cryptocurrency transactions back in 2017 and has since rolled out trading to its users across the European Economic Area (EEA), Australia, Singapore, Switzerland, Japan, and the United States.
According to Revolut’s announcement, the decision to launch full crypto trading in New Zealand is part of its strategy to expand into new verticals and simplify cryptocurrencies for mainstream users.
New Zealanders Can Now Access Top Cryptocurrencies on Revolut App
With the launch, Kiwis can now trade major cryptocurrencies like Bitcoin, Ethereum, XRP, and many smaller altcoins on the Revolut app. The fintech said its goal is to provide an easy gateway to crypto trading and alternate investments that were previously seen as difficult and time-consuming to access by most people.
In addition to trading, Revolut has also introduced a new ‘Learn and Earn‘ program in New Zealand to provide customers with free educational courses on cryptocurrencies. Users can access bite-sized videos and articles to learn about cryptocurrencies at their own pace while earning small rewards.
“Revolut is excited to edge closer to our goal of simplifying the money experience for Kiwis by expanding into new verticals like education and trading,” Revolut Head of New Zealand Georgia Grange wrote in the announcement. “By adding crypto and educational tools like Learn and Earn to our New Zealand platform, Revolut strives to make accessing and investing in cryptocurrencies easy.”
Additionally, the company has partnered with Koinly to integrate cryptocurrency tax tools into the Revolut app. This allows customers to easily track and file taxes on their crypto holdings and transactions directly within the platform. Koinly supports automated tax reporting for over 20 countries including New Zealand.
Expanding Abroad Amid Regulatory Uncertainty in the UK
The New Zealand launch followed closely the Revolut announcement of the suspension of crypto purchases for business customers in the UK. The company said this move was made “to ensure Revolut remains compliant” as companies adapt to new FCA regulations.
Revolut emphasized that the suspension only affects a small number of its over 35 million customers globally. Revolut is still one of the most prominent fintechs in its home country of the UK, where it currently operates as a payment processor while seeking to reestablish all cryptocurrency operations.
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