Revolut introduces crypto card, customers to get cashback in Dogecoin

Revolut, which is a British fintech and banking company, has decided to launch a new feature called “spend from crypto”. This feature helps to convert the crypto balance of customers into fiat money.

It will essentially make it faster for Revolut cardholders to sell crypto-assets and channel the money into their credentials in real-time to pay for daily purchases.

Customers can pay online for e-commerce and personal purchases. The conversion transaction will be subject to the current exchange rate and exchange fees applicable to the user’s subscription plan.

Pay with crypto offers a refund function to its customers.

Revolut will give its customers 1% cashback digital assets for purchases made with one of the nearly 100 supported tokens, which include Bitcoin, Dogecoin and Ethereum.

Cashback will be given to customers in the same currency that the transaction is in, so for example, if someone spends in Dogecoin, 1% cashback will also be given out in Dogecoin itself.

This new feature can be activated on any card, allowing customers to switch between the different currencies they spend in, which also includes digital assets.

The cashback promotion feature is currently only available to UK customers and the company has not revealed how long this promotion will last.

In the month of August, Revolut added a further 22 currencies, which takes the count of the total on offer to over 40.

Crypto cards have gained a lot of use lately

Currently, crypto cards have become quite popular because they help customers withdraw their digital assets and spend them at several card-accepting merchants worldwide.

They help solve one of the biggest drawbacks of digital assets

It happens to be the inability to use these cards in day-to-day transactions in the same way that traditional finance helps with the transactions.

Alongside the launch, Revolut has created a series of “Learn and earn” courses.

The motive behind the design of these courses was to help customers increase their knowledge of crypto and topics related to the specific subject.

These topics include blockchain, popular tokens and protocols.

Revolut To Bring Crypto Into The Limelight

Emil Urmanshin, Revolut’s Crypto General Manager, has mentioned that,

This year, we not only increased the number of cryptocurrencies available in the Revolut app to close to 100 tokens and launched Crypto Learn & Earn educational courses that millions of our customers enjoy.

Additionally, Revolut also stated that,

Now we’re making crypto even more mainstream by empowering people to use crypto-enabled cards to use their tokens for everyday purchases.

This news follows the announcement by Mastercard and the partnership with the world’s largest digital asset exchange to introduce digital currency payments in luxury stores.

Last month Revolut was added to the Financial Conduct Authority’s asset register giving it the right to offer digital asset services in the UK.