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@DefiIgnas Yeah, the tech can move fast, but compliance still determines how smoothly users can actually move money around.

@DefiIgnas MiCA makes Revolut extra cautious – DeFi yield is a red flag 🚩

@DefiIgnas revolut is a compliance trap x.com/BlakeNastri2403/status/2…

@DefiIgnas The yield loop ends at compliance roulette

@DefiIgnas what if they don't have to get out of the app to access DeFi yields in EUR?

@DefiIgnas regulation and mica limiting the tech

@DefiIgnas Its okay for off-boarding with USDT especially if the txn is sub 20K I wouldn't use it to buy any crypto cause spread is insane and cost is stupid. But offboarding has worked fine till nw for me.

@DefiIgnas revolut is fine for spending but using them for defi loops is just asking for a compliance headache x.com/Leon_Defi/status/2092533…

@DefiIgnas Don't get fooled man. When these neo-banks state that they are "crypto-friendly" , what they mean is that they are happy to sell you crypto through their platforms. Other than that you usually get the same garbage treatment that you get from other banks regarding crypto

@DefiIgnas yeah that tracks

@DefiIgnas I was surprised you got such data🤔 What is the source? How is it with other off-ramps?

@DefiIgnas I had my account frozen for 6 weeks for trying to send some money back to Kraken, the exact same account I had received it from. No groceries, no petrol, nothing. My 14yo daughter’s account was also frozen.

@DefiIgnas excellent summary of my own experience and usage of Revolut, too

@DefiIgnas definitely wouldn't feel comfortable sending crypto to revolut

@DefiIgnas Yield is easy, proving it isn't

@DefiIgnas 8% flagged isn't friction, it's a warning label

@DefiIgnas EURR yield loops need a clean off ramp, not just clean code

@DefiIgnas yield isn't worth a week long freeze

@DefiIgnas Foundout about Etherfi this summer. One of the best virtual cards for Europeans at this stage I'd say. Have skipped using Revolut entirely.

@DefiIgnas that's exactly what we are solving let's connect

Funny Revolut issues EURR in Poland that doesn't even use EUR as a currency lol

@DefiIgnas Don't use Revolut for crypto. They removed outside transfers with no notice to customers. They are horrible at comms. Beyond regulation they limit your account without reason.

@DefiIgnas Yeah they froze mine but I called like 10 times, spent 10 hours fixing it and finally I can now move money around whenever I want Plus the fees are absolutely tiny compared to Coinbase

@DefiIgnas hon

@DefiIgnas The gap between traditional and decentralised is still too big.

@DefiIgnas imo the end goal would be to have onchain-powered yield products in-app, completely abstracted away from the end user. Similar to what Aave is trying to accomplish with Aave App. And launching an L2 would be the perfect path to have the whole stack.

@DefiIgnas Well i only withdraw to revolut (cash from cex) and never had an issue

@DefiIgnas None of that headache with seasons, promise. Hold the node, skip the guesswork. 🪻

@DefiIgnas sounds risky but interesting, have you tried it yet

@DefiIgnas mica compliance is making direct neo-bank off-ramps practically unusable. What's your go-to dedicated off-ramp setup right now to keep your daily cards safe?

@DefiIgnas that 8% flag rate is honestly higher than expected, MiCA really tightening the screws on stablecoin flows

@DefiIgnas That's the thing, been literally a Revolut customer since day1 but I never used it for crypto. Not there yet, not now, especially for us who are active onchain. For those who don't have exposure to crypto at all, yes useful for them

@DefiIgnas Can you even withdraw from Revolut into self-custody? They'll probably launch their own "earn" programme, that's how they make $

@DefiIgnas It's best to keep your cryptocurrency separate from those accounts

@DefiIgnas 8% is not worth the hassle 😅

@DefiIgnas If you use Revolut daily, you’re KYC’d and have already provided SOW. When you transfer crypto in, you need to state where it came from. I’ve moved USDC from Kamino/Phantom many times and have never been flagged for additional KYC.

@DefiIgnas 100% Even transfers from/to coinbase or kraken get restricted constantly

@DefiIgnas What if the yield engine is also accepting deposits through revolut’s ecosystem? Wouldnt that make it less risky

@DefiIgnas stablecoin access means little if compliant users still face weeks of account freezes

@DefiIgnas its a really quick off ramp. i use only it when i need small amounts off ramped

@DefiIgnas Revolut is great, but as Web3 native, why would you ever use it for crypto vs literally everything else we have and know how to use without problems?

The scenario you describe (EUR → EURR → DeFi → yield → return to Revolut) is unrealistic today. Not because of the regulation itself, but because of the token's current state: EURR is brand new, with still minimal liquidity and DeFi adoption. Without lending markets or deep pools, there's almost no on-chain yield to collect. If it gains integrations and depth in the future, then what you point out comes into play: upon re-entry, the extra yield and the use of non-custodial wallets could trigger AML reviews. The token could be MiCA; the user journey isn't exempt from monitoring. Today the bottleneck is adoption. Tomorrow, if it scales, it will be compliance. They are two distinct layers.

@DefiIgnas If you're not using crypto, you're living in the olden days.

EURR gives Revolut a regulated euro rail inside the app. The operational cost sits in the review layer: 8% of crypto transfers still get extra checks and a small share end in longer freezes. That is why most people keep the neobank and the DeFi loop on separate rails rather than treating them as one account.

@DefiIgnas The most aggressive fintechs allow off-ramps (cash to crypto) but face the biggest hurdles for on-ramps (crypto to cash). Which is why eventually fintechs need to decide which side of the schism they want to build their castle.

I had to fight with Revolut support for 4 months to get my account unfrozen, I just transfered from CEX to buy stocks there, as soon as I was able to withdraw I went to IBKR I had to send maybe 20 different docs, and tbh I just got lucky that someone from compliance's team understood my case and accepted documents that were previously refused

@DefiIgnas Never had problems sent multiple times 5 figures in and out.

@DefiIgnas agree. terrible hand holding in their uk offering too for crypto

@DefiIgnas on retail app you can convert usd for usdc at zero fees and onramp / offramp already!

@DefiIgnas Who gives yield on this