The fintech leader Revolut, in collaboration with Binance-owned Trust Wallet, announced their partnership on Thursday, aimed at simplifying and expediting crypto purchases for users in Europe while maintaining asset control.
This collaboration introduces an integration that allows Trust Wallet users to acquire crypto via RevolutPay, debit or credit card transactions, and bank transfers, as detailed in a press release shared with CoinDesk.
Users across the EU can instantly fund their wallets, often at no cost. The press release emphasized that unlike numerous fintech-to-crypto setups, users do not need to deposit their funds into a centralized exchange.
The cryptocurrencies are directly transferred to their Trust Wallet, a self-custodial application reportedly utilized by over 220 million individuals.
This partnership arises as Revolut intensifies its focus on cryptocurrency. The London-based fintech achieved a valuation of $75 billion last month during a secondary share sale supported by entities such as Coatue, Fidelity, and NVIDIA’s NVentures. It also obtained a MiCA license in Cyprus, granting it regulatory permission to provide crypto services throughout the European Economic Area.
The company disclosed $4 billion in revenue and $1.4 billion in pre-tax profit for 2024, and it has broadened its global reach with new banking licenses in Mexico and Colombia. Last November, Revolut began collaborating with Polygon Labs to facilitate crypto remittances in USDC, USDT, and POL via the Polygon blockchain.
The initial phase of the partnership with Trust Wallet supports bitcoin, ether, solana, USDC, and USDT, with plans to introduce more assets in the future.
