UK neobank Revolut has announced that its standard, Premium and Metal customers can now access silver through the Revolut app.
Users can trade with both silver and gold via the Commodities tab in the Wealth section of Revolut’s app. Customers can purchase and trade exposure to silver and gold, based on live market performance data which Revolut obtains through its trusted precious metals services partner.
Any silver exposure held by users is backed up by real, physical silver, securely held by Revolut’s trusted precious metals services partner. Like Gold, Silver exposure can be transferred from one Revolut user to another via the Revolut app, or converted instantly into cryptocurrency, or into e-money to make purchases.
“Rolling out the Commodities feature to include silver is a further step we’re taking towards allowing our customers to further diversify their portfolio,” said Ivan Chalov, product owner for precious metals at Revolut. “Many people have felt closed off from obtaining access to precious metals, but we’re stripping back the complexity and fees to make sure that obtaining access to silver and gold exposure is as simple and low cost as possible. Our goal is to open up new financial products for our users and give them as many options as possible so they can save, invest and manage their money in the way that they want.”
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