Neobank Revolut unveils its trading platform dedicated to cryptocurrencies

British neobank Revolut is taking a further step into the world of cryptocurrencies with the launch of its dedicated trading platform, Revolut X, which is initially available to UK-based customers.

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Revolut X hits the UK market

British neobank Revolut has just announced the launch of “Revolut X”a trading platform exclusively dedicated to cryptocurrencies aimed at both individuals and professionals.

Revealed on May 7, However, the Revolut X platform will initially only be available to fintech customers resident in the UK. By offering fees of 0% for producers and 0.09% for users regardless of trade volume, Revolut claims to compete with the main cryptocurrency exchanges.

Initially, Revolut X should offer the same cryptocurrencies for trading as those already available on its application, such as Bitcoin, Ether, BNB, SOL, However, the list should be expanded in the coming months.

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Overview of the trading interface on Revolut

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We are excited about the introduction of our new crypto product, and we believe that this leading trading platform will be a game-changer for experienced crypto traders, providing them with a safe and accessible place to trade.

Leonid Bashlykov, head of crypto exchange product

According to the press release, UK Revolut users will have the ability to exchange cryptocurrencies or fiat currencies between Revolut and Revolut X without fees. An initiative that allows users of the trading platform to fund their account in a simplified way, an essential condition for a quality user experience according to Leonid Bashlykov:

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We understand that competitive fees and simplified on-ramp solutions are at the heart of what experienced traders expect from a cryptocurrency platform.

Regarding the security of cryptocurrencies, Revolut clarified that they were stored on cold wallets.

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Neobanken continues its initiatives around cryptocurrencies

Since its launch in 2015, Revolut has increased its immersion in the world of cryptocurrency. Shortly before the unveiling of Revolut

Fintech started offering cryptocurrency products in 2017although it was forced to juggle the various regulatory barriers relating to this type of asset in both the UK and the US.

An approach that, however, is far from disturbing Revolut, according to Leonid Bashlykov:

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We have always advocated for regulation of the cryptocurrency market to ensure consumer protection and a level playing field.

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In the making since 2021, Revolut and while the institutionalization of cryptocurrencies is growing.

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Source: press release

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