British-based Fintech Company, Revolut, adds Stock Trading to its App

British-based Fintech Company, Revolut, adds Stock Trading to its App
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The British-based Financial Technology firm, Revolut, has expanded its financial services App by recently adding the online stock trading platform. Before this latest step taken by the firm, the App has several functions, such as providing customers access to their savings account, online payments facility, resource allocation and budgeting, and crypto trading. 

The App’s new feature includes an online investing platform that’s free of charge, i.e., no commission, providing access to over 200 Exchange Traded Funds (ETFs) and 1,100 securities listed on Nasdaq and NYSE (New York Stock Exchange).

Also Read: Fintech Startup Revolut enhances crypto hiring

Revolut and its early rivals, such as Chime Financial Inc, Varo Money, and Current, come in the category of online baking firms without any physical offices like traditional banks; such organizations are referred to as “neobanks”. These firms generally have an app or a website to provide the necessary financial services to their customers.  

Revoluts’s entry into the online stock trading platform directly competes with various start-ups as-well-as well-established companies. The company’s new platform provides customers access to real-time internal market news, market performance data, stock price alerts, and stock charts. 

Also Read Revolut Will Offer Google Pay Services For Tits Junior Customers

Information about the company: Revolut

Revolut is a British-based Fintech firm headquartered in London, United Kingdom, in over thirty-five nations. It filed for a banking license in the United Kingdom in January 2021. The firm was valued at $33 billion after an $800 million investment round in July 2021, making it the most valuable UK digital startup at the time. The company has raised funds from several investors throughout its journey to expand its operations; it is currently stated as a unicorn with a valuation of 4.2 Billion Pounds.

Services provided by the company:

Revolut offers several digital banking services such as exchange of currency at free of charge, digital cards, trading of cryptocurrency, facility for money transfer in 29 currencies, ATM withdrawal of money in 120 different currencies, allowing clients to exchange fiat currency for various cryptocurrencies, and many other services, the latest being the commission-free stock trading facility.

Also Read: Asaak has raised a whopping USD 30 Million in Funding from Various Investors to Grow its Fintech firm

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