Revolut enables its customers to meet their crypto tax reporting obligations

Revolut, the global financial super app with more than 28 million customers worldwide, opens the crypto customers’ access to an external tax reporting service at discounted prices, and takes another step forward towards its mission to build the first super app for all-things-money.

The partnership between Revolut and Koinly, a renowned platform in the industry, makes tax reporting less stressful and time-consuming as well as more accurate compared to manual calculations. Currently, Revolut customers can buy and sell tokens from a portfolio of 100+ cryptocurrencies or they can test and trade 12+ Crypto Collections, moreover they can use the super-app to increase their knowledge of crypto, with Learn & Earn. The third-party tax reporting service will complement the diverse offer proposed by Revolut to millions of customers all over the world. (Note: availability of features and tokens varies by region).

The advantage of reporting one’s crypto income tax with Koinly is the frictionless and intuitive process proposed to the clients. It is not only easy to use, but also enables a consolidated report that integrates the crypto assets and trading activities held with other platforms. The selected partner has the expertise to generate reports integrating transactions with 1,700+ tokens, 170+ supported blockchains, 100+ wallets and is available in 34 markets.

The feature is accessible in the Crypto section of the Revolut app. The customer must click on the link to Koinly’s platform and complete the sign-up process through SSO (Single Sign-On). After synchronising the transactions made through Revolut, the customer will have to review the reported transactions and, at check-out, will be informed of the cost of the service. The final price paid by a customer will vary depending on the number of crypto transactions done with Revolut or other crypto platforms selected by the customer, including a generous discount of up to 60%. Once the report is paid for, and downloaded, the customer will be able to use it to complete their tax filings with the relevant tax authorities of their jurisdiction.

Revolut’s Global Business Head of Crypto, Mazen Jundi, said: “Filing taxes for cryptocurrency and other digital assets is a challenge for many of our customers. We searched for a solution that would seamlessly track, consolidate, and generate a tax report in a matter of minutes, in order to meet our customers’ needs. We are confident that the crypto tax service offered through our partnership with Koinly will make this legally required activity easier, less stressful, and more accessible to all.

We want to be the most responsible provider of crypto services, helping our users to onboard to web 3 whilst building a safer and compliant eco-system in the crypto industry. Compliance with applicable requirements is at the heart of everything we do at Revolut. This is a significant step towards empowering Revolut customers to meet their tax obligations”.

Koinly’s Global Head of Partnerships, Jane McEvoy, said: “We are absolutely thrilled to join forces with Revolut, marking our collaboration with a leading global financial superapp. Revolut has made substantial strides in enhancing its cryptocurrency offerings, and we are proud to become their exclusive tax partner – a move that further bolsters their already robust value proposition. Revolut users can now effortlessly access Koinly directly through the Revolut app, streamlining the process of calculating their crypto taxes.”