Revolut, a digital bank that allows crypto investments, has entered the Latin American market by launching its services in Brazil. This move aims to cater to the increasing demand for cryptocurrency assets in the country. Revolut already offers crypto investment options to its European clients.
Revolut, a digital bank that offers crypto investments across Europe, has announced its expansion into Latin America, specifically Brazil, to meet the increasing demand for crypto assets. The announcement was made via email on Tuesday.
Revolut’s announcement states that there are around 10 million crypto users in Brazil.
Revolut’s CEO, Nik Stronsky, said that their goal is to create financial products that are accessible and easy to use so that customers can use their money efficiently. Revolut will start by offering global accounts and crypto investments in Brazil, but they plan to expand in the future.
Revolut has 29 million customers globally and aims to expand its services in Brazil. However, digital bank Nubank dominates the Brazilian market with around 70 million customers, and it introduced crypto trading last year, which attracted 1 million users in just one month.
