Revolut is extending its specialized cryptocurrency trading application, Revolut X, to users across the European Union. Initially launched in May for UK-based professional crypto traders, the platform offers advanced features compared to the standard buy/sell options in Revolut’s primary app.
Key Features of Revolut X
- Simplified Access: Designed for retail clients seeking streamlined crypto trading.
Competitive Fee Structure:
- 0% maker fees
- 0.09% taker fees (regardless of trade volume)
- Seamless Integration: Users log in with existing Revolut credentials and can transfer funds between Revolut and Revolut X without additional fees.
Expansion Details
The standalone platform now serves users in 30 European countries, supporting 200+ tokens. With over 400,000 global clients, Revolut aims to position itself as a go-to platform for crypto trading.
"The feedback has been overwhelmingly positive—traders leverage near-zero fees and our broad asset selection," said Leonid Bashlykoc, Product Lead.
Strategic Goals
This expansion aligns with Revolut’s compliance-first approach, reinforcing its role as a safe hub for the crypto community. Recent developments include:
- Securing a UK banking license ($4.5B valuation).
- Plans to launch a proprietary stablecoin.
Stablecoin Market Context
The $12.5B stablecoin market (dominated by Tether’s USDT) faces new competition:
- PayPal entered the space in 2023.
- Ripple and BitGo are expected to announce offerings soon.
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FAQs
1. Is Revolut X available worldwide?
Currently, Revolut X targets European users but may expand globally based on demand.
2. How do Revolut X fees compare to other exchanges?
Its 0% maker fee undercuts many competitors (e.g., Binance charges 0.1%).
3. Can I trade fiat currencies on Revolut X?
No—it’s crypto-to-crypto only, though conversions are efficient.
4. What security measures does Revolut X have?
Leverages Revolut’s existing security protocols, including two-factor authentication.
5. Will Revolut launch its own token?
The company is developing a stablecoin, details remain confidential.