Popular e-payment firm Revolut has announced that it will now support dogecoin, as well as having added the ability to buy, sell and store cryptocurrency directly on the company’s app.
It brings the number of cryptocurrencies supported by Revolut to 30 in total. The addition of dogecoin puts Revolut side-by-side with PayPal and other payment processors who have decided to enable support for crypto in general.
Thus, the company further adds to its “challenger bank” status as a disruptor in the financial sector.
Revolut has focused on the biggest cryptocurrencies by market capitalization. Dogecoin has reached a market cap of over $40bn and is currently the sixth largest cryptocurrency on the market.
Revolution head of crypto Ed Cooper said: “We have just launched dogecoin in-app. So now keen crypto customers and those new to the game can buy and sell this popular token”.
The announcement is an upgrade of the previously-supported crypto features on the platform when Revolut would allow consumers to hold crypto on their accounts but not to trade or sell it.
Revolut is joining a number of companies to take dogecoin more seriously. Previously, Coinbase added and enabled trading for dogecoin. Developers behind dogecoin are now looking to establish the currency as a cheaper and greener alternative of bitcoin.
With Elon Musk’s qualified endorsement of the currency and withdrawal from bitcoin, along with soaring market capitalization, it’s easy to see why dogecoin development has restarted at full blast once again.