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UK retail investors gain access to Revolut’s advanced crypto platform, Revolut X
Revolut expands crypto reach with new trading platform, Revolut X
Revolut, a leading UK fintech firm with over 40 million users globally, has launched its new crypto trading platform, Revolut X. This standalone platform aims to rival major crypto exchanges by offering seamless on/off-ramping and competitive fees.
Initially designed for professional traders, Revolut X is now available on desktop for all UK retail account holders. The platform allows trading of over 100 tokens with a simple fee structure of 0% for makers and 0.09% for takers. While the current selection mirrors the Revolut app’s offerings, including Bitcoin, Ether, and XRP, the company plans to expand the variety in the coming months.
Revolut’s continued commitment to digital assets
This launch represents a significant step in Revolut’s continued foray into digital assets, following its introduction of Revolut Ramp in March, which allows direct crypto purchases into Web3 wallets. Despite earlier pauses in crypto services for UK business clients and US customers due to regulatory challenges, Revolut X signals a renewed focus on the crypto market.
Revolut’s move comes amidst a fluctuating regulatory landscape for crypto in the UK and the US. In December, the company suspended crypto trading for its UK business customers to comply with new FCA requirements. Furthermore, in August, Revolut ceased its crypto services in the US citing regulatory uncertainties after the SEC’s delisting of certain tokens as unregistered securities.
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