London-based fintech player Revolut launched ‘Revolut X,’ its new crypto-trading platform for UK retail customers. This follows an earlier introduction of its service, Revolut Ramp, in March, in partnership with Consensys, that will strengthen the ability of users to buy cryptocurrencies directly within Web3 wallets.
Revolut, a money transfer service launched in 2015, has expanded into crypto trading since 2017. Rapid growth has expanded the service to over 40 million users globally. Revolut X marks a further development in its journey, aiming to rival major crypto exchanges with its user-friendliness and competitive fees.
The platform is accessible from a desktop to anyone holding a Revolut retail account and offers trading in more than 100 tokens. Revolut X offers a fee model with no charge for makers and a 0.09% fee for takers, regardless of trading volume. At launch, the platform will trade the same cryptocurrencies as its retail app, including Bitcoin, Ether, and XRP.
Revolut’s establishment of a standalone crypto exchange sets it apart from other banks that offer cryptocurrency trading, positioning it as a pioneer in the fintech sector’s engagement with digital currencies.
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