Revolut Partners with Ledger Live to Enhance Crypto Purchases
KEY FACT: Leading fintech provider, Revolut has partnered with Ledger, a leader in hardware security, to join Ledger Live as a buy provider. This collaboration enables Revolut users to seamlessly convert fiat currency into cryptocurrencies directly within the Ledger Live app, ensuring enhanced security through the self-custody of assets. The integration allows for faster transactions with Revolut's trusted platform, bypassing additional ID checks.
Image source: Ledger
Revolut Partners with Ledger Live to Enhance Crypto Purchases
Revolut, one of the world’s leading fintech solutions for digital payments has teamed up with Ledger Live, the popular digital asset management platform, to offer seamless cryptocurrency purchases. This partnership represents a strategic step forward in the integration of traditional finance with the burgeoning world of decentralized finance (DeFi). This development was communicated by Ledger via a blog post as well as through X social media on August 14.
We're excited to announce that @RevolutApp is now available as a buy provider through Ledger Live!
With your Revolut account or card, you can now buy your crypto and have it instantly secured with your Ledger wallet. X post
This partnership unveils a new era of crypto purchasing. This development is noteworthy as the global adoption of cryptocurrencies continues to grow and the demand for secure and user-friendly platforms intensifies. Ledger is a renowned provider of hardware wallets and known for their top-notch security, has consistently been at the forefront of protecting digital assets. Ledger Live, their companion app, is a comprehensive platform that allows users to manage their cryptocurrency portfolios, monitor market trends, and securely store their assets in a hardware wallet.
Revolut, emerging as a prominent fintech company with millions of users worldwide is known for offering a wide array of financial services, including currency exchange, budgeting tools, and even stock trading, Revolut has been rapidly expanding its cryptocurrency offerings. Joining forces with Ledger Live positions Revolut to make a significant push to enhance its crypto services to its teaming users.
How the Integration Works
With the integration of Revolut into Ledger Live, users can easily purchase cryptocurrencies directly from the app. This will eliminate the need for third-party exchanges, providing a streamlined experience for buying digital assets. The process is straightforward: users select the cryptocurrency they wish to purchase, choose Revolut as their payment provider, and complete the transaction.
Another unique feature of this partnership is the speed and convenience it offers. Users who have already completed identity verification with Revolut can skip additional Know Your Customer (KYC) checks when purchasing Ledger Live. This saves time as well as reduces friction in the buying process. Moreover, the integration ensures users' security. Complete self-custody for people’s financial assets is encouraged in that assets are immediately transferred to their Ledger hardware wallets after purchase. Keeping users' private keys offline helps to protect their cryptocurrencies from online threats, which is a critical consideration in the world of digital finance.
The partnership between Revolut and Ledger Live is also a major step in bridging the gap between Web2 and Web3 financial ecosystems. Revolut, a Web2 company rooted in traditional finance, is embracing the decentralized ethos of Web3 by offering its services through Ledger Live. This move reflects a broader trend of established financial institutions and fintech companies recognizing the growing importance of decentralized technologies.
Image source: Ledger
What this means for Revolut and Ledger
For Revolut, this collaboration is an opportunity to expand its footprint in the cryptocurrency space and appeal to a broader audience of crypto-savvy users. For Ledger, integrating with Revolut enhances the utility of its platform, making it easier for users to manage their digital assets securely.
Pascal Gauthier, Chairman, and CEO at Ledger has expressed excitement about the partnership depicting the continued growth of Ledger’s transaction business.
“Cryptocurrency is inevitable, and allowing people to buy and sell digital assets securely and with self-custody is paramount as more people enter the market, Ledger is excited to introduce this integration to Revolut customers; our partnership showcases the continued growth of Ledger’s transaction business,” Source
He further noted the alignment in the mission of Revolut with Ledger, hence, strengthening the bond of their partnership.
“Revolut shares our deep commitment to improving user security and accessibility throughout the crypto ecosystem. Now, even more users will feel confident transitioning from Web2 to Web3, and realize the value and power of self-custody.” Source
This partnership between Revolut and Ledger is expected to bolster user confidence in transitioning from traditional finance (Web2) to decentralized finance (Web3).
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