SoftBank, a Ripple partner, leads an $800 million financing for Revolut Digital Bank in compliance with XRP
SoftBank, owner of the MoneyTap payment application backed by Japan's Ripou, and Tiger Global, a US hedge fund, helped British digital bank Revolut raise a staggering $800 million in a recent round of financing.
The revolution is now worth 33 billion US dollars, compared to 5.5 billion US dollars in 2020
According to a CNBC article, this British financial technology company has total revenues of $800 million and is currently valued at $33 billion. That's six times the investor valuation last year, when it was $5.5 billion.
This year, fintech companies are becoming a trend, having raised $33.7 billion in the second quarter of this year.
The Revolut app offers services in the banking and commercial sphere. This funding round made the company the second-largest unicorn among fintech companies in Europe.
The first is Klarna. As for the UK, where Revolut is headquartered, the $800 million raised made it the first major fintech here, ahead of payment company Checkout dot com.
As previously reported by U.Today, it has an astonishing $742 million worth of encryption, including XRP, Litecoin, Bitcoin Cash, Bitcoin and Ethereum.
According to a Revolut blog post published in January, the company still allows its customers to buy and sell XRP, despite the controversial SEC lawsuit filed against Ripple Labs in December 2020.
The company is monitoring the situation with the XRP court case closely, the post says.