Revolut’s Planned Native Token To Reward Customer Loyalty

There’s news about Revolut and the plans that they have for rewarding their customers.

Revolut’s planned native crypto token will aim to reward customers for their loyalty, CEO Nik Storonsky said in an interview. He also shared details on the neobank’s forthcoming non-custodial wallet.

After speaking to The Block at the Finance FWD conference in Hamburg, Storonsky said the long-rumored native token — which some have dubbed “Revcoin” — will function in a similar way to airline Air Miles programs. Here users earn rewards based on how often they use the service.

“It definitely won’t be a stablecoin,” he said. “The goal is to make loyalty tradable.”

Separately, Storonsky said the company is building a non-custodial wallet. Here, users are entrusted with the seed phrase and private key and empowered to link to other decentralized wallets.

According to notes from Block Crypto, Revolut currently only offers customers the option to host crypto in a custodial wallet.

“The private keys are managed by a third party and bitcoin is the only token that can be withdrawn to a user’s external wallet.”

More than that, it’s been also revealed that Storonsky confirmed earlier reports that the financial app will add staking, deposits and withdrawals, and lending to its custodial wallet offering.

Check out more details about all this in the original article. 

It’s been just revealed that in a new post, Michaël van de Poppe said that he’s eyeing $29,300 as a key make-or-break indicator for Bitcoin.

“Still watching the level at $29,300 for Bitcoin. If that sustains, I’ll see continuation happening on the markets. If that’s lost, I’m looking to see whether we sweep the actual lows and hit $26,000.”

Van de Poppe also has a video strategy session where he tells YouTube subscribers that Bitcoin is likely to hold the critical window between $29,200 to $29,400.