Revolut US is First Customer to use Paxos Crypto Brokerage
Paxos Trust Company, the regulated financial institution that digitizes and mobilizes assets, introduced Paxos Crypto Brokerage, a new product offering that enables companies to integrate cryptocurrency buying, selling, holding and sending capabilities into their own applications. Paxos Crypto Brokerage is a turnkey, easy-to-integrate API-based solution that provides access to the $200 billion cryptocurrency market while managing the underlying regulatory and technological complexity.
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Charles Cascarilla, CEO and Co-Founder of Paxos, commented, “The digital asset revolution has started and more and more companies like Revolut see it coming. With Paxos Crypto Brokerage, companies can leverage our expertise and regulatory compliance to easily and securely integrate crypto into their applications. We’re proud to offer financial market infrastructure that supports an open, digital financial future.”
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Revolut US is the first partner to leverage Paxos Crypto Brokerage for US customers of its market-leading consumer banking application. With the integration, Paxos custodies all crypto assets on behalf of Revolut US users, provides access to deep liquidity so Revolut US users have great trading prices and offers off-the-shelf historical pricing and market data for Revolut to customize the in-app experience. Because Crypto Brokerage is an API-based solution, Revolut controls the user experience and manages its customer relationships. Notably, manages the licensing and regulatory complexities so that Revolut can focus on its core business.
Nik Storonsky, Founder & CEO of Revolut said, “In order to expand our crypto offering to US customers, we had to find a trusted partner. We chose Crypto Brokerage because their turn key solution is fully compliant and easy to integrate. The Paxos platform offers the security and liquidity we need to offer our users the best crypto experience.”
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