Revolut, one of Europe’s largest brokerage firms, has launched a cryptocurrency exchange in Australia, enabling users to convert fiat into Bitcoin, Ethereum and several other cryptocurrencies.
Australian traders can now access cryptocurrency trading through one of Europe’s most popular financial apps. Revolut expanded its Australian offering last month and has quickly added crypto trading to its services.
The UK-based money app announced that it had enabled tens of thousands of Australian customers to buy, sell and hold selected cryptocurrencies. Users on the platform can convert Australian dollars into Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Bitcoin (BTC), XRP and Stellar (XLM).
The company said the exchange process allows customers to convert Australian Dollars—or 26 other global currencies—into cryptocurrencies via the app. Users receive real-time notifications about price movements and can sell their cryptocurrency instantly, cashing out in real time through the app.
Matt Baxby, head of Revolut Australia, noted that buying and selling cryptocurrencies can feel complicated and confusing for people who are not familiar with the space.
Revolut’s goal is to remove that complexity, offering a streamlined process that allows anyone to set up an account within minutes and begin trading cryptocurrencies immediately.
When Revolut launched in Australia last month, it brought a range of traditional financial services alongside its digital offerings. The app quickly gained traction: thousands expressed interest, with a large waitlist and many users adopting the beta version. Revolut is already a leading financial services app in Europe, boasting more than one million users, and the platform continues to grow—adding thousands of new cryptocurrency accounts each day as traders and investors take advantage of its services.
Edward Cooper, who leads Revolut’s cryptocurrency division, said the company aims to make crypto access as straightforward as other everyday financial tools, comparing the impact they hope to have to the role web browsers played for the internet.
Australia is emerging as a significant market in the cryptocurrency ecosystem. The Australian dollar is among the higher-ranked currencies for Bitcoin trading volume, and that momentum has attracted major global exchanges. Earlier this year Kraken acquired Bit Trade, Australia’s oldest crypto exchange, and Binance expanded its presence by launching a fiat-to-crypto platform in Australia after introducing Binance Lite Australia the previous year.