Revolut will launch its digital token as part of developing its customer loyalty program. This was announced in an interview with The Block by the founder of the fintech company, Nikolay Storonsky.
According to him, the tokens will be distributed among Revolut users. He explained that the model is similar to the loyalty programs offered by airlines – the more often a customer uses the app, the more digital assets they receive. Storonsky clarified.
It’s not going to be Stablecoin. The goal is to make loyalty tradable,
The company’s founder also revealed that the cryptocurrency wallet it is developing would be non-custodial. After registration, the user will receive a seed phrase and a private key, which will allow managing assets through any other application.
Storonsky disclosed details of the cryptocurrency wallet’s development in April 2022. At the time, he noted that the service would support digital asset staking.
In a conversation with the publication, the head of the company specified that the wallet will work as a standalone application and one of the options in Revolut’s internal hub.