Revolut plans to issue its own crypto-token, which will be aimed at rewarding customers for their loyalty. This was announced by the company’s CEO Nick Storonsky.
Storonsky said the long-known token, which some call “Revcoin,” will function similarly to Air Miles programs, where users are rewarded based on how often they use the service.
“It’s definitely not going to be a stabelcoin. The goal is to make loyalty sellable,” he noted.
Separately, Storonsky said the company is creating a non-custodial wallet with which users can connect to other decentralized wallets.
Currently, Revolut offers customers the ability to place cryptocurrency only in a custodial wallet, where private keys are managed by a third party. Storonsky confirmed that the company plans to add stacking and lending to the app.
“We will run Ethereum first, but in the future we will make the wallet multichain,” he added.