Revolut Enters DeFi Space with LayerZero Integration

Recently, Revolut revealed plans to diversify its cryptocurrency services. Revolut is integrating LayerZero to improve its cryptocurrency offerings and extend its capabilities in decentralised finance (DeFi). Starting from June 20, Revolut customers in the UK and EU can trade the LayerZero token, ZRO. Soon, Revolut Business customers will also gain access to trade this token alongside other available cryptocurrencies.

The Announcement

Revolut, a UK-based fintech company, has made a major step forward in its digital asset services by integrating with LayerZero, a pioneering blockchain interoperability protocol. This integration is designed to improve Revolut’s crypto capabilities, offering users easy access to decentralised finance (DeFi) services and expanding its range of cryptocurrency options.

About LayerZero

LayerZero is a protocol that links over 50 blockchains, enabling developers to create seamless applications, tokens, and experiences across different chains. The protocol utilises immutable on-chain endpoints, a configurable Security Stack, and a permissionless group of Executors. These elements facilitate the transfer of messages that are resistant to censorship between blockchains.

What does The Integration Mean?

Revolut’s integration with LayerZero represents a significant step in its journey to become a comprehensive financial super app. LayerZero specialises in blockchain interoperability, allowing different blockchains to communicate seamlessly.

This integration means Revolut users can access a wider range of DeFi applications more easily. LayerZero’s technology enables efficient and secure interactions across multiple blockchain networks, enhancing the utility of digital assets for Revolut’s global user base. By simplifying the process of buying, selling, and transferring cryptocurrencies, this integration makes it more straightforward for users to engage directly with various DeFi protocols through the Revolut app.

Its Importance

This integration with LayerZero is crucial for Revolut because it could establish Revolut as a top player in the expanding DeFi sector. Using LayerZero’s technology, Revolut can provide users with more features, such as interacting with various DeFi platforms, participating in yield farming, and accessing liquidity pools across different blockchains. Revolut aims to diversify its financial services and meet the increasing interest in decentralised financial solutions through this strategic move.

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