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Revolut Is Rolling Out Commission-free Stock Trading In The US – Wealth Tech Digest #61

Key takeaways

✅ Revolut Is Rolling Out Commission-free Stock Trading In The US

For today’s digest, we take a look at how Revolut will soon offer commission-free stock trading to U.S. customers for the first time. The global fintech player is one of the most valuable fintech companies coming out of Europe with a valuation of $33 billion. The start-up secured a U.S. broker-dealer license, enabling it to compete with the likes of Robinhood and Square in the red-hot world of retail trading. Founded in 2015, Revolut has grown to become one of the dominant European consumer fintech firms by continually piling on new features. The app started out as a way for people to avoid currency conversion fees while travelling. They have expanded though, quickly adding banking, trading and crypto features among dozens of products. With that said, it does not come as a surprise that It now has more than 16 million customers. Their approach helped it garner a massive $33 billion valuation in July from investors including Softbank and Tiger Global. Revolut launched in the U.S. last year just as the pandemic began, and has since added high-interest savings, and small business banking among other things. With fintech becoming an ever-dominant force in the startup world, it will be very interesting to see how far the British company will go.

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