- Revolut plans U.S. re-entry with cryptocurrency services led by Mazen ElJundi.
- Key player in DeFi data partnerships includes Pyth Network.
- Potential growth for Bitcoin and Ethereum offerings noted.
Revolut has announced plans to re-launch its cryptocurrency services in the United States, according to Mazen ElJundi, Global Head of Crypto at the company, as reported by Cointelegraph on May 30.
The relaunch highlights Revolut’s strategic focus on expanding its presence in the burgeoning decentralized finance (DeFi) sector, reflecting a broader industry trend toward integrated financial ecosystems.
Revolut Targets U.S. Crypto Market with DeFi Expansion
Mazen ElJundi, who guides Revolut’s crypto initiatives, stated the firm would renew its U.S. cryptocurrency services. This move aligns with Revolut’s ongoing strategy to bridge traditional finance with Web3 by forming strategic industry partnerships and advancing its product offerings.
Immediate changes include the anticipated rollout of Bitcoin and Ethereum, assets previously offered by Revolut. However, official asset listings remain unpublished. This development underscores Revolut’s commitment to capitalizing on the growing demand for cryptocurrency services in the U.S. market.
The market response has included ElJundi’s comments on Revolut’s collaboration with Pyth Network, highlighting the strategic importance of accurate market data in driving DeFi initiatives. This partnership is seen as a milestone in Revolut’s efforts to modernize financial services.
“Our partnership with Pyth is an important milestone in Revolut’s journey to modernize finance. As DeFi continues to gain traction, Pyth’s position as the backbone of the industry will help Revolut capitalize on this transformation.” — Mazen ElJundi, Global Head of Crypto at Revolut
Bitcoin and Ethereum Await Revolut’s U.S. Return
Did you know? Revolut’s previous expansions in regions like the EU and UK typically led to incremental user growth but did not directly influence major asset prices.
According to CoinMarketCap, Bitcoin (BTC) is currently trading at $105,830.62 with a market cap of 2.10 trillion dollars. The cryptocurrency shows a 24-hour decline of 2.67%, alongside a 7-day decrease of 3.25%. Meanwhile, its 30 and 60-day percentages have climbed by 11.18% and 28.69%, respectively.
Coincu’s research team suggests that Revolut’s entry into the U.S. could prompt increased competition in crypto offerings. This strategic move may spur both regulatory focus and technological advancements aimed at capturing a greater share of the retail investment sector.
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