Revolut, a British fintech and banking company, has decided to introduce a new feature called “spend from crypto.” This feature assists customers in converting their crypto balances into fiat money.
In essence, this will make it easier for Revolut cardholders to sell their crypto assets and instantly transfer the funds to their credentials to pay for everyday purchases.
Customers can pay for e-commerce and in-person purchases online. The conversion transaction will be subject to the current exchange rate, and exchange fees will be charged based on the user’s subscription plan.
Revolut will give its customers 1% cashback on digital assets when they make purchases using one of the nearly 100 supported tokens, which include Bitcoin, Dogecoin, and Ethereum.
The cashback will be given to customers in the same currency as the transaction, so if someone spends Dogecoin, the 1% cashback will be given out in Dogecoin as well.
This new feature, which can be activated on any card, allows customers to switch between the various currencies in which they spend, including digital assets.
The cashback promotional feature is currently only available to customers in the United Kingdom, and the company has not stated how long this promotion will last.
Revolut added 22 new currencies in August, bringing the total number of currencies available to more than 40.
