Revolut launches Revolut X, a crypto trading platform for UK retail customers

Global fintech company Revolut has launched Revolut X, a standalone crypto trading platform available to its UK retail customers. Although Revolut X was designed for professional crypto traders, the platform aims to become the go-to financial app for crypto beginners and pros alike, providing them with a safe and accessible place to trade.

For Revolut, the global fintech company and neobank with more than 40 million customers worldwide, the introduction of Revolut X marks a significant entry into the cryptocurrency space. The platform, which aims to rival major cryptocurrency exchanges, offers easy access and minimal fees.

Following Tuesday’s launch (May 7), crypto traders will be able –for the first time– to engage with over 100 tokens through a desktop version of the new stand-alone platform. The trades will have a fixed 0% maker and 0.09% taker fees, regardless of their trading volume. This pricing strategy is set to attract traders who are weary of the high costs associated with other platforms.

UK Revolut retail account holders can simply access the new platform and sign in using their existing credentials. Users can also trade from fiat to crypto and vice versa between Revolut X and Revolut with no limits or fees.

The integration of Revolut X with the existing Revolut ecosystem allows for frictionless transitions between fiat and crypto, with no hidden fees or limits. This seamless experience is further enhanced by real-time trading and advanced analytics, keeping traders abreast of market movements and aiding in informed decision-making.

The platform will initially launch with the same assets already available on the Revolut retail app, including bitcoin, ether and XRP, however, it plans to expand its selection in the coming months. Revolut X features seamless conversion of fiat currencies like the British pound to cryptocurrencies and vice versa, referred to as “on-ramping” and “off-ramping.”

The launch of Revolut X follows the recent introduction of Revolut Ramp, which enabled traders to purchase crypto directly in their wallets through a partnership with MetaMask.

Committed to creating a safe place in the UK for crypto trading, Revolut is adding further security and protection to crypto trading, contributing considerably to the crypto literacy of its customers through its Learn module, which it proactively encourages customers to undertake.

The majority of funds are kept in cold storage, and customer support is provided 24/7 via encrypted chat. Revolut’s market-leading risk monitoring tools work constantly to prevent account takeovers, while trusted custodians are selected after a carefully conducted due diligence process.

Leonid Bashlykov, Head of Crypto Exchange Product at Revolut, said: “Today, Revolut is offering the UK’s crypto community the opportunity to engage with more than 100 tokens through a stand-alone, best-in-class exchange platform. We are excited by the introduction of our new crypto product, and believe this top-tier trading platform will change the game for experienced crypto traders, providing them with a safe and accessible place to trade.

“We put the customer at the heart of everything we do, and understand that competitive fees as well as easy on and off ramping are at the heart of what experienced traders want from a crypto platform. Revolut X along with our recent partnership with MetaMask, further consolidates our product offering in the world of Web3. Together, we are empowering our customers to further grow their wealth, either in fiat or in crypto.”

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