Statistics show a 756 percent increase in the number of transactions in the Revolut app for the year
Swedish regulators are skeptical about cryptocurrencies. Many people in this country who want to invest in digital assets have to look for application providers from other countries.
Popular is the British application Revolut, which offers the services of a digital bank. It allows you to buy Bitcoins and other crypto, as well as conduct transactions with them.
According to Dagens Industries, Revolut is used by 180,000 Swedes. The total volume of transactions on the platform for the year increased by 47%. But in Sweden, this figure rose by 756%. This, as mentioned, is due to the lack of available alternatives.
Swedes don't have many freely available apps where you can safely interact with digital assets. Most of them trust Revolut. It's an environment that's familiar to a lot of people. People know it and are not afraid to use it. This is the opinion of the representative of the company.
Also, the increase in the number of users from Sweden arises due to some financial bonuses. You can make monthly international money transfers without commissions using the services of a digital bank.
Customers actively use it. They can transfer money to an exchange in the U.S. without paying any transaction fees. They are also attracted to the opportunity to work with 21 digital assets supported by Revolut.
Soon the digital bank will expand the functionality. First, British users, and then other users will be able to transfer cryptocurrency from the application to other wallets.
The company also plans to become a digital Amazon. Revolut sells books, but will expand the range of products offered and they can be bought with cryptocurrencies.