The firm won’t perform the crypto conversions itself. Instead it will work with several of “the most trusted” cryptocurrency exchanges to perform the conversion, says Lewis Tuff, Revolut’s lead engineer. Tuff says his firm is aiming for the lowest spreads and fees for “seamless” conversions. It’s planning to release the feature this month, although it has not fixed a date, Tuff says.

Revolut says it’s introducing crypto holdings because of “huge demand” from its users. It claims 855,000 customers who have transferred over $4 billion within the app since it launched in 2015. The firm has 3,000 customers signed up to test the crypto feature, and Tuff says the firm gets hundreds of Twitter “favorites” an hour whenever the crypto feature is mentioned.

The Revolut feature is the latest cryptocurrency-related innovation among Britain’s so-called “neobanks,” upstarts offering digital-only financial services, some of whom have acquired banking licenses. One of those is Monzo, whose API is being used by an app called Dust to lets users automatically turn spare change into bitcoin. Both the Revolut and Dust approaches promise to greatly reduce the considerable friction in acquiring cryptocurrency—and to bring the likes of bitcoin and ether closer to the mainstream.

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