London-based fintech giant Revolut has marked a new milestone by extending its cryptocurrency trading services to New Zealand. This expansion allows New Zealand customers to buy, sell, and hold an extensive range of digital currencies directly through the Revolut app. Introducing these services in New Zealand is a testament to Revolut’s commitment to making digital currencies more accessible to a wider audience. Users in the country now have access to major cryptocurrencies, including Bitcoin and Ethereum, as well as a variety of smaller altcoins.
‘Learn and earn’ program and koinly partnership streamline crypto experience
In tandem with its service launch, Revolut is rolling out the ‘Learn and Earn’ program in New Zealand, a unique educational initiative. This program aims to demystify digital currencies by providing users with free, comprehensive learning resources, such as videos and articles, about the cryptocurrency landscape. In addition, participants can earn rewards while learning at their own pace, fostering a knowledgeable base of cryptocurrency users.
Revolut’s partnership with Koinly significantly eases the tax reporting process for crypto transactions. This collaboration allows users to efficiently track and report taxes on their crypto holdings within the app, reflecting Revolut’s dedication to simplifying regulatory compliance for its customers.
Balancing expansion with regulatory compliance
This latest move into New Zealand occurs amidst Revolut’s temporary suspension of cryptocurrency purchases for business customers in the UK, a step taken to align with the new Financial Conduct Authority (FCA) regulations. While impacting a small fraction of its global customer base, this suspension highlights Revolut’s commitment to adhering to regulatory standards across different jurisdictions.
Despite this temporary setback in the UK, Revolut continues to dominate the UK fintech scene and is working towards reinstating its full range of crypto services. The company’s launch in New Zealand signifies its growing influence in the digital currency market and underscores its efforts to offer comprehensive, user-friendly, and compliant crypto services worldwide. As the cryptocurrency landscape evolves, Revolut’s strategic expansions and initiatives are crucial in making digital currency trading more accessible and understandable globally.