Revolut Launches Revolut X: A Standalone Crypto Trading Platform for UK Retail Customers

Revolut, a global fintech company, has launched a new standalone crypto trading platform called Revolut X for its UK retail customers. This platform aims to compete with leading crypto exchanges by offering easy on/off-ramping and low fees.

Since its inception in 2015, Revolut has grown to become the UK’s largest fintech company with over 40 million customers worldwide. The new Revolut X platform is designed for professional traders but is available on desktop for all UK users with a Revolut retail account.

Traders on Revolut X can trade more than 100 tokens with fixed 0% maker and 0.09% taker fees regardless of their trading volume. The platform will initially offer assets like bitcoin, ether, and XRP, with plans to expand in the future.

Revolut’s Head of Crypto Exchange Product, Leonid Bashlykov, expressed excitement about the new platform, stating that it will provide experienced traders with a safe and accessible place to trade. The launch of Revolut X follows the introduction of Revolut Ramp in March, allowing users to purchase crypto directly in their Web3 wallets through a partnership with MetaMask developer Consensys.

This move marks Revolut’s renewed interest in crypto services following the halt of crypto trading for its UK business clients and the termination of its U.S. crypto services due to regulatory challenges. The company suspended crypto trading for UK business customers in January to comply with new requirements set by the Financial Conduct Authority.

In the U.S., Revolut halted crypto services entirely in August, citing a challenging regulatory environment. Despite these challenges, Revolut continues to expand its crypto offerings and provide innovative solutions for its customers.