KANALCOIN NEWS – A London-based Fintech called REVOLUT is launching an investment product aimed at children between the ages of 7 and 17. This platform, which is referred to as “money management”, will probably make many children embrace Cryptocurrency. Granted the Crypto space has always yearned for higher adoption among institutional investors, but the market could get a boost from a truly unexplored crowd.
Revolut, which is one of the largest Fintech in Europe, introduces the future of Crypto, namely Revolut Junior as a money management application aimed at children from Generation Alpha and Generation Z. Where later the account connected to the application will have its own bank card to use by these children. This Revolut proprietary product is now available to the children of British Premium and Metal clients, who pay £6.99 Sterling/Pound and £12.99 respectively for the top tier accounts offered by Revolut. And in the future the product will continue to reach the children of clients with free accounts and those outside the UK.
This junior Revolut account can only be opened by the parents or legal guardians of the children, where the parents or guardians will have the right to manage and monitor their children’s balance through the application. At the end of this year, the account will provide the ability to set financial goals, savings options, spending limits, reports, and financial guidance.
This conversation about the future of Crypto is being gleaned through experience and help from parents and guardians. So Revolut Junior will grow with the kids until they qualify for a standard account for ages 18+. So that in this way these children will be trained independently which makes them have the financial skills and literacy to avoid potentially costly mistakes.
Maybe this idea makes you wonder what are the advantages? In this case it may not be clear to Revolut Junior for children to buy and sell Cryptocurrencies. But the Fintech Revolut offers instant access to 5 Cryptocurrencies for its Premium and Metal accounts. Where Revolut users can buy Bitcoin, Ethereum, Bitcoin Cash, XRP, and Litecoin with any of the 30 available fiat currencies. So, in this case Generation Alpha and Generation Z will carry the future of Crypto and push Bitcoin to the next level.
So anyway the Crypto futures market will ultimately win out of this move, as Revolut does offer over 10 million accounts worldwide and it looks like Bitcoin is pushing in this regard. And when the kids grow up to be teenagers or adults, they will likely switch to a standard Revolut account which of course includes a Crypto option.
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