UK-based digital bank service Revolut has added support for Dogecoin, following huge demand from its users.
Dogecoin has gained massive adoption in recent months, with millions of traders entering the market to gain access to the meme coin. The huge demand for the cryptocurrency has seen Revolut list it on its trading platform.
The UK-based fintech firm announced yesterday that it had added support for Dogecoin on its platform. Dogecoin is the 30th cryptocurrency available to traders and investors on Revolut, and it was added thanks to the huge demand from Revolut users.
This latest development comes after Revolut launched a program that would see it add new tokens to its platform every Tuesday, starting 1st June. The fintech firm has listed eight tokens so far, including Dogecoin, Polygon, Algorand and five others.
Ed Cooper, Revolut’s head of crypto, stated that “One of the most popular user requests over the past couple of months has been to add dogecoin, and we have answered the call.” Dogecoin’s addition to Revolut comes a few days after it was listed on Coinbase Pro, Coinbase’s professional trading platform.
Revolut has faced criticism for not allowing users to withdraw their cryptocurrencies to external wallets. In the past, users can only purchase cryptocurrencies on the Revolut platform but won’t be allowed to transfer them elsewhere.
However, that is changing after the fintech firm launched a feature that allows users to withdraw their bitcoins to external wallets. Revolut said it would add the functionality to other cryptocurrencies in the coming months.
Dogecoin is one of the most popular cryptocurrencies in the world. It performed excellently this year, rising by as much as 6,000% at one point before the market declined, and it has lost roughly 50% of its value since then.