UK Fintech Platform Revolut Adds Support For Dogecoin Due To High Demand From Users

What Happened: London-based Fintech company Revolut announced support for meme-based cryptocurrency Dogecoin on Tuesday.

We're interrupting your regularly scheduled Token Tuesdays to bring you something new in the crypto world.

There just aren't enough dogs in the Revolut app...but we're about to change that. Much Dogecoin. Such wow. How Revolut? We're letting the DOGEs out! pic.twitter.com/mBOrXElsOk

— Revolut (@RevolutApp) June 8, 2021

The addition of Dogecoin marks the 30^th token to be added to the digital banking platform after massive demand from its users.

"One of the most popular user requests over the past couple of months has been to add dogecoin and we have answered the call," Ed Cooper, Revolut's head of crypto, said in an email to users.

Why It Matters: Last week, the company announced support for eight new cryptocurrencies in an inaugural ‘Token Tuesday’ launch, including popular tokens like Polygon (MATIC), Algorand (ALGO), and Chainlink (LINK).

“There just aren’t enough dogs in the Revolut app...but we’re about to change that. Much Dogecoin. Such wow. How Revolut? We’re letting the DOGEs out!” the company said in its most recent announcement on Twitter.

Read also: Dogecoin Co-Creator Says GameStop Was The Catalyst For 'All The Recent DOGE Stuff'

Dogecoin, which is now included in the list of supported crypto tokens, will be available for users based in Europe and the U.K to trade on the Revolut platform.

“I said before that 2021 would be the year of crypto, and Revolut is here to deliver on that promise,” said Cooper.

Price Action: Dogecoin was trading at $0.328 at the time of writing, down 0.746% in the past 24-hours.

A market-wide dip in crypto prices saw the price of DOGE drop to a low of $0.29 yesterday, before recovering above $0.30.