Revolut partners crypto trading startup

Paxos has announced a new brokerage service

Revolut Paxos

Revolut partners crypto trading startup. Source: paxos.com

Revolut has become the first partner to use Paxos Crypto Brokerage for US customers of its banking app. That’s a new service allowing firms to integrate crypto buying, selling, holding, and sending capabilities into their own apps.

The solution provides access to the $200 billion cryptocurrency market managing the underlying regulatory and technological complexity.

In order to expand our crypto offering to US customers, we had to find a trusted partner. We chose Paxos Crypto Brokerage because their turnkey solution is fully compliant and easy to integrate. The Paxos platform offers the security and liquidity we need to offer our users the best crypto experience
Nik Storonsky, Founder & CEO of Revolut 

The report states that Paxos stores all crypto assets on behalf of Revolut US users. The company also provides access to deep liquidity so Revolut US clients have good trading prices.

Since Paxos Crypto Brokerage is an API-based solution, the digital bank controls the user experience and manages its customer relationships.

We’ve reported that $38 million in bitcoin alone have been stolen by scammers over the past 4 years, $24 million of which during the H1 2020.

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