Revolut Introduces Cryptocurrency Trading Services in New Zealand

The Launch of Revolut Crypto Trading in New Zealand

Revolut has recently introduced its crypto trading services in New Zealand, making it available to residents as of December 20. This move allows customers to buy and sell over 100 cryptocurrencies, including popular options like Bitcoin, Ethereum, and XRP. However, it remains unclear whether Revolut will allow the transfer of assets outside its platform, as this feature is not currently available to customers in the European Union.

In addition to crypto trading, Revolut has also launched a “Learn and Earn” program in New Zealand. This program aims to provide educational resources for crypto traders to enhance their knowledge of the market. Georgia Grange, Revolut’s Head of New Zealand, expressed excitement about expanding into new verticals and providing easy access to cryptocurrency investment for Kiwis.

To facilitate tax filing for its customers, Revolut has partnered with Koinly, a crypto-based tax solution.

Revolut’s Decision to Halt Crypto Services in the US

The launch of crypto trading in New Zealand comes after Revolut suspended its crypto services in the United States. The decision was made due to increased scrutiny and a lack of regulatory clarity in the US market. Similarly, Revolut recently announced plans to suspend certain crypto services for its UK customers in response to incoming regulations for digital assets in the region.

Hot Take: Expanding Crypto Services Globally

Revolut’s expansion into the New Zealand market demonstrates its commitment to providing easy access to cryptocurrency investment and education worldwide. By offering a wide range of services and free educational courses for crypto investors, Revolut aims to simplify the money experience and change the perception that crypto investment is time-consuming, difficult, and expensive. As regulatory landscapes differ from one jurisdiction to another, Revolut continues to adapt its offerings to comply with local requirements while expanding its global presence in the crypto space.