Instant cryptocurrency exchange Changelly announced today (Thursday) the addition of Revolut's payment infrastructure to its platform, enabling cryptocurrency purchases for users in the European Economic Area (EEA).

Changelly Adds Revolut as Payment Provider for European Market

The technical integration allows users to purchase cryptocurrencies using Revolut Ramp, expanding the payment options available on Changelly's platform. Users can access 30 cryptocurrencies using 20 fiat currencies through various payment methods, including cards and Revolut Pay.

“We’re really excited to be partnering with Changelly to help its large user base bridge the gap between the fiat and web3 worlds,” Michael Hey, the Product Owner of Revolut Ramp, commented. “This partnership allows our 50 million customers to easily buy crypto directly into any wallet they own via Changelly’s website or app.

The move adds another payment provider to Changelly's existing network of fiat-to-cryptocurrency gateways. Revolut users can now purchase digital assets directly through Changelly's platform while using their existing Revolut accounts.

In November, Revolut announced the expansion of its cryptocurrency exchange platform, Revolut X, to 30 additional markets within the EEA. This move builds on the earlier launch of Revolut X in the United Kingdom, where the platform has already gained traction among tens of thousands of traders.

“We’ve seen Revolut Ramp grow really fast this year as users enjoy the ease of buying crypto without additional KYC and paying directly from their Revolut account at competitive rates and with high success rates.”

Changelly, established in 2015, operates a cryptocurrency exchange platform that handles multiple digital assets. Revolut, which began operations in 2015 as a money transfer service, has since expanded to offer various financial services.

"By integrating Revolut Ramp, we've streamlined the crypto purchase process for both Revolut and Changelly users, reducing transaction times and offering impressive limits,” Zifa Mae, Head of Product at Changelly, added. “This efficiency, coupled with our competitive rates, not only strengthens our position in the crypto market but also enhances our ability to serve a broader user base."

The service is accessible through web and mobile platforms for users in the European Economic Area. The companies noted that the integration does not extend to the United Kingdom market due to regulatory requirements.

Instruments, Transaction Amounts and Future Plans

Finance Magnates inquired about additional details regarding the latest service. According to information provided by Changelly, Revolut users can now purchase over 30 cryptocurrencies via Changelly. These include major tokens such as Bitcoin (BTC), Ethereum (ETH), and others like ALGO, AVAX, ADA, DOGE, AAVE, APE, BAL, CHZ, CRV, GRT, LINK, MATIC, MKR, PERP, QNT, SHIB, SNX, UMA, UNI, USDC, USDT20, ZRX, 1INCH, LTC, DOT, XRP, SOL, XLM, and XTZ.

The minimum transaction amount is $12, with a maximum monthly limit of $125,000.

When asked whether there are plans to expand the partnership beyond the EEA region, Changelly responded that they are actively "exploring opportunities to expand our reach and strengthen our Revolut-Changelly partnership."

Last year, Revolut disclosed plans to introduce its own stablecoin, broadening its range of crypto-asset offerings. Revolut aims to compete with established companies such as PayPal, Ripple, and BitGo by entering the stablecoin market. Reports indicate that the company is positioning itself as a prominent player in the crypto sector, with a strong emphasis on compliance and security for its users. The stablecoin initiative comes at a time when new entrants are increasingly joining the market.