Revolut adds support for DOGE as the coin’s popularity surges
UK-based digital bank Revolut has expanded its crypto offering by adding Dogecoin (DOGE). A report unveiled this news on June 8, noting that this move is a response to increasing demand for DOGE by the Neobank’s client base. Reportedly, this is part of Revolut’s new program, which seeks to add a new digital currency to its platform every Tuesday.
According to the report, the program started on June 1, and Algorand (ALGO) was the first token to get listed. After DOGE, Revolut seeks to add six more cryptocurrencies. Per Ed Cooper, Revolut’s head of crypto, the digital bank has been getting an influx of requests to add support for DOGE over the past few months, leading to the coin’s listing yesterday.
He noted that crypto enthusiasts using its platform would be able to trade DOGE seamlessly with this addition. The coin will also be available for newbies that want to dip their toes in the rapidly growing crypto space.
This news comes after Revolut announced that it is planning to start letting its users withdraw crypto to personal wallets. Neobank has started with the beta withdrawal of Bitcoin (BTC) to not more than three wallets for select customers to achieve this. The company, which now supports more than 20 cryptos, made this decision after coming under fire for not allowing its clients to withdraw their crypto holdings to other exchanges.
Making room for a meme-based coin
Dogecoin’s developers created it as a fun coin based on the Shiba-Inu meme. However, the coin soon gained a wide following, including Tesla’s CEO, Elon Musk. As a result of being an internet sensation, the coin’s price has been making moon shots to unlock new milestones. For instance, in 2021, DOGE surged by more than 6,634% to set a new all-time high at $0.7376 (£0.52).
San Francisco-based crypto exchange Coinbase, one of the biggest crypto exchanges globally, also announced support for DOGE due to its impressive performance. As a result of the listing, the coin surged further and is currently the sixth-largest crypto.
At the time of writing, 12:36 PM UTC, DOGE is trading at $0.3313 (£0.2341) after gaining 0.46% over the past 24 hours. The coin has a daily volume of $3,366,940,734.00 (£2,378,743,628.57).