Digital Bank Revolut Joins Cashback Programs In The Form Of Dogecoin And Bitcoin

Dogecoin cryptocurrency. (Photo; Doc. Cryptometric)

JAKARTA - Revolut, a digital bank from England officially launched a new service that allows its users to convert credit or debit cards into crypto cards and cashbacks in the form of DOGE and BTC. This is Revolut's latest step in offering cryptocurrency services to consumers.

To convert a debit/credit card into a crypto card, users can choose the card listed on their account. For users who don't want to be complicated, just create a new account to change their card. That way, the crypto community can buy goods and services using crypto assets.

In addition, this feature applies to physical and virtual cards. In addition, users have the right to collect 1 percent cashback in Dogecoin (DOGE), Shiba Inu (SHIB), Bitcoin (BTC), Ethereum (ETH), along with a number of other cryptocurrencies backed by Revolut.

British people will soon be able to buy a glass of milk with Dogecoin as fintech company Revolut launches a crypto card in the UK, "wrote a statement from Standard News via its official Twitter account @standardnews, October 31, 2022.

Despite the concentration on crypto and blockchain technology, Futuristic Bank Revolut must face the music of the crypto turmoil that has been going on for the better part of 2022.

According to a recent Bloomberg interview, Revolut CEO Nikolai Satoransky has been annoyed by the revenue generated by crypto in 2022, which is below 5 percent. The lack of 5% is quite sad from my point of view. I think crypto has a lot of potential for the financial system, "explained Satoransky.

In comparison, 2021 absorbs five to seven times more of that and generates about 30-35 percent of Revolut's total revenue. However, this does not stop British banks from investing more in the cryptocurrency sector, because it is believed to be the future of money.

"Revolut still wants to invest in its crypto offerings, although this revenue stream almost disappeared during its recent price fall," wrote Bloomberg in a tweet, November 3, 2022.

However, Revolut is one of the digital banks that has started to provide its support for cryptocurrencies. Revolut is not the only one, the largest cinema chain company in the US, AMC Theaters has also announced its crypto support by accepting purchases of tickets using digital assets.