Europe's largest financial app Revolut launches "Street Mode" to combat mobile phone theft, Aave founder gives sharp, sarcastic comment

Odaily Planet Daily news: X platform fintech blogger @oostmarcel revealed that Europe’s largest financial app, Revolut, which has 65 million users, has launched “Street Mode,” hailed as one of the smartest security upgrades in the fintech sector this year. Due to a surge in mobile phone thefts in Europe and increasingly sophisticated criminal tactics—such as robbers forcing victims to complete selfie verification before fleeing, a trend known as “transfer robbery”—Revolut’s solution is “context-aware security.” This feature allows users to set “trusted locations” (such as home, office, or hotel), and outside these areas, any transfer exceeding a set limit will trigger additional selfie verification and a 1-hour delay restriction. This 1-hour window is crucial, allowing users or anti-fraud teams to freeze funds in time. In comparison, traditional banks have static security measures, while Revolut’s “Street Mode” dynamically adjusts rules based on the environment. Over 1 million users have already enabled its wealth protection feature. In response, Aave founder Stani commented, “London’s street crime rate remains high, and fintech companies are adjusting their products to improve user safety.” Previously, it was reported that Uniswap now supports buying cryptocurrencies with Revolut, and there are zero fees when using the built-in payment app Revolut Pay to purchase cryptocurrencies.