Global fintech giant Revolut today introduced “Revolut X”, the launch of a standalone crypto trading platform designed specifically for its retail customers in the UK.
Revolut Launches Dedicated Crypto Trading Platform for UK Retail Customers
Revolut, which established its presence in the UK with money transfer services in 2015 and then ventured into cryptocurrency trading in 2017, has emerged as the largest fintech company in the UK with a customer base of over 40 million globally.
Revolut X represents a strategic move by the company to compete with leading crypto exchanges by offering seamless on/off and competitive fees.
Although initially designed for professional traders, the platform can be accessed from desktop by all UK users with a Revolut personal account.
Traders on Revolut
The platform will initially offer the same assets available on the Revolut retail app, including Bitcoin, Ethereum, and XRP, with plans for further expansion in the near future.
Revolut's renewed focus on crypto services follows previous adjustments due to regulatory challenges.
In December, Revolut halted crypto trading for its UK business customers in response to new requirements set by the Financial Conduct Authority (FCA).
The move was intended to give the company more time to comply with evolving regulatory standards.
Similarly, in August 2023, Revolut suspended its crypto services in the US, citing a challenging regulatory environment.
This decision followed the delisting of certain tokens, including Polygon (MATIC), Solana (SOL), and Cardano (ADA), amid regulatory uncertainty in the country.
*This is not investment advice.
