Revolut Australia launches 22 new crypto tokens, following a 73% YoY increase to crypto users

Revolut Australia launches 22 new crypto tokens, following a 73% YoY increase to crypto users

  • Revolut in Australia has added 22 new tokens to its crypto platform allowing customers to trade 55 cryptocurrencies in the app
  • Revolut Australia gains crypto traction with a reported 73% YoY increase in new crypto users and a 300% increase in the last three months (Jul-Oct) alone
  • Revolut Australia’s Learn & Earn sees more than 30,000 lessons completed

Revolut, the global financial superapp with more than 20 million customers worldwide, is strengthening its crypto offering to Australian customers with the launch of 22 new crypto tokens. The announcement follows a 300% increase to Revolut’s Australian crypto users over a three-month (Jul-Oct) period and strong engagement with its ‘Learn & Earn’ education feature.

‘Learn & Earn’ transforms technical crypto jargon into more accessible information for a broader audience via two in-app courses accessible to Revolut customers. The purpose is to help customers improve their knowledge of cryptocurrencies and blockchain networks and reward them with tokens for doing so. Since its September launch, more than 30,000 ‘Learn & Earn’ lessons have been completed.

Consumer appetite for crypto is strong according to Revolut Australia data

Traction on Revolut’s crypto platform has been gaining momentum since its launch in 2020. Compared to this time last year, Revolut has nearly doubled (73%) its number of crypto users in Australia which prompted the launch of Learn & Earn’ last month. Merely 10 days into the launch and Revolut Australia reported a 10% increase to its new crypto users and more than 25,000 lessons completed signifying consumer appetite for crypto is there and sustaining.

Revolut is now doubling down on its crypto efforts by launching 22 new tokens 

Following the success of ‘Learn & Earn’, Revolut in Australia is now adding 22 new tokens to its crypto portfolio including NKN, BAND, LINK, TRB, AAVE, COMP, CRV, SUSHI, 1INCH, MIR, OGN, BAT, ENJ, SKL, CTSI, STORJ, RLC, KNC, KEEP, CHZ, NU and SHIB. The new token launch brings the total number of cryptocurrencies available to buy and sell in Australia to 55.

Matt Baxby, CEO at Revolut Australia said, “At Revolut, we’re committed to creating a best-in-class one-stop destination where people can manage their entire financial lives. To ensure this is right for Australians, we take a locally curated approach to our product and feature roll-outs. Our original move into crypto was to satiate the number of Australians who were interested in getting exposure to alternate asset classes  via an easy-to-use platform.

“The local success of ‘Learn & Earn’ demonstrated through our engagement data suggests that consumers haven’t lost interest in crypto, they’re just looking to gain a better understanding of it in a safe, convenient and accessible way. It’s with this in mind that we’re continuing to strengthen our crypto offering through educational resources and trading capabilities,” Baxby continued.

Emil Urmanshin, Crypto General Manager at Revolut said, “When we introduced the ‘Learn & Earn’ courses, we aimed to make the world of crypto more accessible to a larger public. The results exceeded our expectations and we are confident in the impact of the project. We are thrilled to see the rising interest for cryptocurrencies and blockchain technology across different age segments and markets”.

Learn & Earn has attracted mostly 18-34 y.o., and almost ⅔ of the total number of crypto fans that completed the courses and earned the rewards fall into these age categories.

Revolut plans to add more courses to Learn & Earn by the end of the year, and to offer increasing access to consumers to better control their finances and give them safe access to new tools and technologies.

Revolut offers a wide range of financial products through its financial superapp, and crypto is an increasingly popular feature.

There are several ways to buy and sell crypto on Revolut. Customers can set up a stop or limit order so they don’t have to time the market, or use the Recurring Buy feature to average out volatility. Customers can also roundup any spare change in a cryptocurrency of their choice.

As part of our goal to be the safest place to trade, use and learn about crypto, Revolut regularly communicates with customers that crypto tokens are volatile assets and prices can change quickly. Revolut believes in widening access to crypto but also recognises that it may not be appropriate for everyone. Cryptocurrencies are generally unregulated, significant risks apply, and values can go down.