Cryptocurrency : Revolut adds support for DOGE as the coin grows | Invezz

UK-based digital bank Revolut has expanded its crypto offering by adding Dogecoin (DOGE). A report released this news on June 8, noting that this move is a response to growing demand for DOGE from Neobank’s customer base. This is reportedly part of Revolut’s new program, which seeks to add a new digital currency to its platform every Tuesday.

According to the report, the program started on June 1 and Algorand (ALGO) was the first token to appear on the list. After DOGE, Revolut is looking to add six more cryptocurrencies. According to Ed Cooper, head of crypto at Revolut, the digital bank has received an influx of requests to add support for DOGE in recent months, leading to the currency’s listing yesterday.

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He noted that crypto enthusiasts using his platform would be able to trade DOGE with no problem with this addition. The coin will also be available to newbies who want to dip their feet into the fast-growing crypto space.

This news comes after Revolut announced that it plans to start allowing its users to withdraw cryptocurrencies to personal wallets. Neobank has started beta withdrawal of Bitcoin (BTC) to no more than three wallets for selected clients to achieve. The company, which now supports more than 20 cryptocurrencies, made this decision after being criticized for not allowing its clients to withdraw their cryptocurrency holdings to other exchanges.

Making room for a meme-based coin

The developers of Dogecoin created it as a fun coin based on the Shiba-Inu meme. However, the coin soon gained a huge following, including Tesla CEO Elon Musk. As a result of being an internet sensation, the price of the coin has been skyrocketing to unlock new milestones. For example, in 2021, DOGE rose by more than 6.634% to set a new all-time high at $ 0.7376 (£ 0.52).

Coinbase, one of the world’s largest cryptocurrency exchanges, San Francisco-based Coinbase, also announced support for DOGE due to its impressive performance. As a result of the listing, the coin surged further and is currently the sixth largest crypto.

At the time of writing, 12:36 PM UTC, DOGE is trading at $ 0.3313 (£ 0.2341) after gaining 0.46% in the last 24 hours. The coin has a daily volume of $ 3,366,940,734.00 (£ 2,378,743,628.57).

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