Revolut expands crypto offers and adds Elrond

Revolut expands crypto offers and adds Elrond

The British Fintech and Bank company Revolut works with Elrond to bring the native cryptocurrency of the blockchain, EGLD to its platform.

Elronds EGLD will be available to over 20 million revolut users in over 30 countries, an opportunity that Beniamin Mincu, CEO from Elrond, described as "enormous".

The step represents a bet on the underlying technology of the blockchain when you consider that your token fell by about 90 % compared to its all -time high in November 2021. Its total value (TVL) was also decimated during this time and is now $ 157 million, according to Defillama .

Benjamin Mincu; Source: Twitter

"It is a big step forward to make EGLD accessible to a large audience," Mincu told Blockworks. "The listing is one thing, but there are other things like staking and some other functions."

Elrond started his Minnes in July 2020 and used his own unique Proof-of-Stake (POS) consensus salgus called Secure Proof of Stake (Spos) to support his blockchain.

"We believe that the Elrond network enables us to scale dynamically with the demand for the network

in a way that no other network can do at this point, ”said Mincu.

Maiar, the network's decentralized stock exchange and digital wallet, was removed from the network in June 2022 after “suspicious activities”. This incident led the token Mex of the Wallet lost over 90 % in value.

egld also suffered and shortly after the incident fell up to $ 38. His price remains under his all -time high of November 23, 2021 of around $ 540 and is traded at around $ 56.20 at the time of the writing of this article.

Although there are no significant ecosystem updates in the network, Mincu said that there will be a lot in the coming months that you can look forward to. Especially in November-if the first Elrond conference will take place in Paris.

"We have worked on several things, and with this conference, people will get a feeling for where this entire room really moves and what we have been working in tacitly for some time," said Mincu.

Mincu said that in the future he will see that Elrond will be the "next basic layer for the meta personation".

"I believe that the meta-verse landscape will be absolutely decisive for the next few decades," he said. "But without the blockchain, the meta personum really cannot exist - so this is the direction in which we push very strongly."

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The contribution Revolut Expands Crypto Offerings, Adding Elrond is not a financial advice.