Revolut Officially Fully Launches in Australia as Waitlist Opens

By Sam Town August 11, 2020 In Australia, Crypto Debit Cards, Trading

Revolut is now officially fully available in Australia, allowing all Aussies to now download the cryptocurrency and stock trading app, create accounts and verify without joining a lengthy waiting list.

The UK-based fintech app executed a soft launch in Australia mid-2019, allowing a limited number of Australian users to create an account. The lengthy beta process, which saw the waiting list extend to over 30,000 users, is now complete, providing new users with the ability to create an account.

The Revolut app provides neobank financial services to over 12 million users worldwide, delivering a range of features that allow users to send and convert between 29 different currencies or withdraw cash from anywhere via a prepaid debit card that allows ATM withdrawals in 120 countries worldwide.

The most notable feature of the Revolut app is the cryptocurrency functionality it provides. Unlike Coinbase, or Australia-based cryptocurrency brokerage platform CoinJar, Revolut doesn’t actually allow users to send cryptocurrency out of the app itself — but users are able to invest.


Crypto Functionality Not Yet Available in Australia

Through the international version of the Revolut app, it’s possible to purchase and hold Bitcoin, Litecoin, XRP, Ethereum, and Bitcoin cash. Unlike Coinjar and other crypto exchange platforms, you aren’t provided with a wallet address for these cryptocurrencies — so it’s not possible to purchase them and send them elsewhere — but it is possible to buy and capitalize on price changes.

Australian Revolut users aren’t able to purchase cryptocurrency via the Revolut app just yet, however — the Australian release only provides money transfer and prepaid debit card services, including the issuance of Revolut’s premium metal debit card — the first of its kind available in Australia.

Revolut has stated that it will allow Australian users to access commission-free stock trading via the Revolut app alongside the ability to buy and hold cryptocurrency at a later date.

Sam Town

Sam Town

Sam Town is a FinTech and Blockchain Journalist from Adelaide, Australia. I work with a broad spectrum of finance, technology, and blockchain businesses to deliver engaging, high-quality content across a range of topics. Areas of specialization include FinTech, blockchain, NeoBanks, crowdfunding, P2P lending, tax structuring & strategy, artificial intelligence, InsurTech, and finance IoT applications.

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