The Ethereum layer 2 initiative, Taiko, has introduced its native token, TAIKO, on Revolut, a leading financial super-app in Europe.
As noted in a release on April 8, Taiko is now available to Revolut’s 45 million users spanning 50 countries, representing a significant advancement in bringing the token into the wider market. Through the Revolut app, users can easily acquire the token, facilitating a straightforward fiat-to-crypto conversion and potentially enhancing liquidity.
Taiko stands out as the first layer 2 solution to employ a “based rollup” design, leveraging Ethereum’s inherent security and sequencing capabilities. This architecture enhances speed and scalability while maintaining decentralization. Vitalik Buterin, Ethereum’s co-founder, has lauded the project’s structure, calling it “ideal for Ethereum scaling.”
Since launching its mainnet in June 2024, Taiko has experienced remarkable growth, processing over 2 million daily transactions and recording more than 210 million unique wallet addresses.
The addition to Revolut enhances Taiko’s reach, aligning well with the fintech giant’s increasing presence in the cryptocurrency sector. Revolut has been expanding its crypto offerings, having introduced Revolut X, a platform for advanced users to trade cryptocurrencies, in November 2024.
In conjunction with the token launch, Taiko is advancing within its ecosystem. On April 4, the project shared an update announcing the establishment of its DAO Security Council, which includes prominent organizations such as Nethermind, Aragon, Halborn Security, L2Beat, and Chainbound.
Taiko has also completed its initial testnet batch following the Pacaya upgrade, a technical enhancement designed to accelerate the network and improve scalability by optimizing transaction processing.
However, despite the listing on Revolut, TAIKO has not yet bounced back from a recent decline in price, which was caused by market uncertainty surrounding the ongoing trade conflict involving Trump. The token has fallen by 13% over the past 10 days and is currently trading at $0.56, with a market capitalization of approximately $54 million.