Bitcoin
$64,500.88+5.74%
Ethereum
$3,084.60+3.88%
Binance Coin
$555.34+2.15%
Solana
$143.44+10.61%
XRP
$0.49532840+1.29%
Toncoin
$6.96+18.41%
Dogecoin
$0.15228265+6.31%
Cardano
$0.45562561+3.90%
Avalanche
$35.34+6.10%
Shiba Inu
$0.00002265+4.81%
Wrapped Bitcoin
$64,572.49+7.73%
Tron
$0.10841435-1.14%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
01
DAY
12
HR
14
MIN
27
SEC
Finance

Revolut Taps Blockchain Tools From Crypto Compliance Firm Elliptic

The partnership means Revolut customers' crypto transactions will now be recorded on the blockchain.

By Jamie Crawley
AccessTimeIconMay 11, 2021 at 11:04 a.m. UTC
Updated May 9, 2023 at 3:19 a.m. UTC
Revolut app
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

U.K.-based digital banking service Revolut has partnered with blockchain firm Elliptic to support crypto withdrawals and guard against risk.

  • The integration announced Tuesday means that for the first time Revolut customers' crypto transactions will be recorded on the blockchain.
  • Revolut will also be using Elliptic's tools to provide visibility into risks and the ability to block high-risk transactions.
  • This follows soon after Revolut announced the beta launch of bitcoin withdrawals to other addresses for U.K. Metal service customers.
  • Subject to take up, this will be opened up to all U.K. users followed by those in other markets such as Europe and the U.S. and eventually expand to other crypto assets on Revolut's platform, such as ether and XRP.
  • Revolut has offered access to crypto since 2017, though the lack of facility for users to transfer their holdings to wallets elsewhere has often led the U.K. fintech to be "flayed alive" on social media, Ed Cooper, head of crypto, told CoinDesk recently.
  • Elliptic now provides the banking firm with "integrated, automated compliance solution that is tailored to our risk appetite and enables us to meet FCA [Financial Conduct Authority] requirements and other regulatory standards," according to Cooper.
VolumeMuteUnmute

Rep. Davidson on State of U.S. Crypto Sector

  • Umee CEO on DeFi Outlook Amid Rising Inflation
    07:00
    Umee CEO on DeFi Outlook Amid Rising Inflation
  • OpenNode Exec on Partnership With Stripe to Allow Bitcoin Conversion Payments
    04:18
    OpenNode Exec on Partnership With Stripe to Allow Bitcoin Conversion Payments
  • How This Taiwanese Fintech Company Wants to Bridge the World Using Stablecoins
    09:28
    How This Taiwanese Fintech Company Wants to Bridge the World Using Stablecoins
  • New York Senate Confirms New Top Financial Regulator
    01:34
    New York Senate Confirms New Top Financial Regulator

    • See also: Revolut Adds 11 Cryptocurrencies to Its Trading Offerings

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.