Revolut launches crypto exchange for experienced traders in UK

Digital
fintech
app
Revolut
has
reportedly
started
onboarding
experienced
traders
on
its
cryptocurrency
exchange
dubbed
Revolut
X.

British
fintech
company

Revolut
has
started
what
appears
to
be
a
phased
introduction
of
its
crypto
exchange,
Revolut
X,
as
part
of
its
intensified
focus
on
cryptocurrency
initiatives.

Based
on
notifications

circulated
among
a
select
group
of
users
in
the
U.K.,
Revolut
has
granted
access
exclusively
to
professional
traders,
indicating
a
cautious
approach
compared
to
traditional
methods
of
service
rollout
within
the
crypto
market.
Preliminary
reports
indicate
that
Revolut
X
allows
users
to
switch
from
fiat-to-crypto
between
Revolut
and
Revolut
X,
storing
assets
on
“purpose-built
defences.”
The
exchange
is
understood
to
charge
zero
fees
to
the
maker
of
a
trade
and
0.09%
to
the
taker.

So
far,
Revolut
made
no
public
announcement
regarding
its
latest
development.
Crypto.news
reached
out
for
comment
and
we
will
update
the
article
if
we
hear
back.

Revolut
has
been
thinking
about
starting
its
own
crypto
exchange
for
a
while
now.
Early
reports
about
this
plan
came
out
in
2021,
when
the
London-headquartered
company

started
looking
for
someone
to
lead
the
team
“to
architect
and
build
Revolut
Crypto
exchange.”

The
fintech
company,
which
has
a
$25.7
billion
valuation
as
of
April,
has
been
offering
crypto
services
for
several
years.
As
of
June
2023,
Revolut
had
over
30
million
customers
worldwide
and
offers
exposure
to
more
than
50
tokens.