Revolut Vault: 10.5 million euro saved in Italy
Fintech

Revolut Vault: 10.5 million euro saved in Italy

By Stefania Stimolo - 29 Oct 2019

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In honour of World Savings Day, which is celebrated every year on October 31st, Revolut reveals that thanks to its Vault function, in 2019 alone, Italians would have saved 10.5 million euros.

According to what has been reported, it seems that Revolut wanted to disclose the data relating to its Vault function, created so that users can easily allocate money to their Revolut account, both in fiat and crypto, for possible future use.

The Vault function is present in the Dashboard of the Revolut app. The website specifies its operation as follows:

“The money you save in your Vault will never be touched whilst you spend with your Revolut card. You can withdraw money in your Vault back into your main Revolut account instantly and at any time, so it’s available for you to use with your Revolut card immediately”.

At the moment, with over 250,000 total Italian users registered on the Revolut platform, with a growth of 250% recorded only in the last three months. More than 30 different currencies are available in the savings account and more than 15,000 Italians use Vault, for a total of 3 million euros saved.

Not only that, according to the estimates reported, during this 2019 as many as 19,000 Italian users have created more than 32,000 Vault accounts, resulting in 1.2 million transactions that Italians would perform on Revolut for savings. 

With regard to currencies, Revolut states that Italians mainly accumulate euros on the platform, for a total of over 2.6 million, followed by British pounds for a total of 200,000 and in third place, there are over 150,000 in US dollars. 

In the crypto world, however, the numbers are lower but in continuous growth. To date, the Revolut Vaults show 40,000 euros in BTC, 11,000 euros in ETH and 7,000 euros in XRP

An estimate entirely dedicated to Italy, part of the 1.8 million Vaults created globally. According to the report, the worldwide equivalent set aside as part of this feature amounts to 150 million euros. 

Attractive numbers that are part of the highlights reported by the platform at the beginning of October for the year 2019.

According to forecasts, it seems that 2019 will close with a further tripling of revenues that aim to reach 150 million pounds, about 200 million US dollars. 

 

Stefania Stimolo
Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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