📰 Table Of Contents
Revolut Introduces Revolut X: A New Crypto Trading Platform
Global fintech firm Revolut has launched Revolut X, a standalone crypto trading platform tailored for UK retail customers. Since its inception in 2015 in the UK, Revolut has evolved from offering money transfers to including cryptocurrency services in 2017, attracting over 40 million customers globally.
Revolut X Aims to Compete with Crypto Exchanges
Revolut designed Revolut X to rival top crypto exchanges by providing seamless on/off-ramping and low fees. Initially aimed at professional traders, Revolut X is now accessible on desktop for all UK users with a Revolut retail account.
- Traders can engage in over 100 token trades with fixed fees of 0% for makers and 0.09% for takers.
- The platform currently offers assets like bitcoin, ether, and XRP, with plans to expand the selection in the future.
Seamless Trading Experience for UK Revolut Account Holders
UK Revolut retail account holders can easily access Revolut X using their existing credentials. The platform allows users to trade between fiat and crypto without limits or fees between Revolut X and Revolut.
Leonid Bashlykov, Revolut’s Head of Crypto Exchange Product, expressed excitement about the new product, emphasizing competitive fees and user-friendly features for experienced traders.
Revolut’s Focus on Digital Assets
Revolut’s launch of Revolut X follows the introduction of Revolut Ramp in March, enabling users to buy crypto directly in their Web3 wallets through a partnership with MetaMask developer Consensys. This move highlights Revolut’s renewed commitment to crypto services.
The company’s focus on crypto services intensified after suspending crypto trading for UK business clients and terminating services in the US due to regulatory challenges.
In a separate development, former Revolut employees have launched a new crypto exchange called X10, securing $6.5 million in its initial funding round.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
