Revolut Unveils Dedicated Crypto Trading Platform for UK Users
Revolut, a prominent fintech company, has introduced Revolut X, an independent crypto trading platform exclusively for its UK retail clientele.
This platform, launched on Tuesday, caters to the growing demand for cryptocurrency trading among Revolut’s user base.
Since its inception in 2015, Revolut has evolved from offering simple money transfer services to providing a wide range of financial products, including cryptocurrency trading introduced in 2017. With a user base exceeding 40 million globally, Revolut has emerged as a leading fintech player in the UK.
Revolut X aims to rival established crypto exchanges by offering seamless onboarding and competitive fees. While it primarily targets professional traders, the platform is accessible to all UK users with a Revolut retail account through desktop access.
Traders on Revolut X can access a diverse range of over 100 tokens with fixed fees, regardless of trading volume. Initially, the platform will feature popular assets like bitcoin, ether, and XRP, with plans for further expansion in the near future.
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Revolut’s Head of Crypto Exchange Product, Leonid Bashlykov, expressed optimism about the platform’s potential to revolutionize the crypto trading experience. He emphasized its competitive fee structure and user-friendly interface as key strengths.
The launch of Revolut X follows the introduction of Revolut Ramp in March, allowing users to purchase crypto directly in their Web3 wallets through a partnership with MetaMask developer Consensys.
Revolut’s renewed focus on crypto services comes amidst regulatory challenges. In December, it suspended crypto trading for UK business clients to comply with new regulations from the Financial Conduct Authority (FCA). Similarly, in August 2023, Revolut terminated its crypto services in the U.S. due to regulatory uncertainties, impacting a small fraction of its global crypto customer base.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
