Fintech company Revolut has introduced Revolut X, a non—app-related cryptocurrency platform with a focus on experienced traders, simplified deposit/withdrawal of funds and low fees. This is what The Block writes about.
For makers, the fee will be 0%, for takers — 0.09%, regardless of turnover.
More than 100 tokens will be available to customers. The exchange will initially work with digital assets presented in the retail application, including bitcoin, Ethereum and XRP. It is planned to expand the line in the coming months.
Users from the UK who have a retail account in the app have access to the platform. They will be able to apply the existing credentials. Customers can exchange fiat for cryptocurrencies and vice versa between Revolut X and Revolut without restrictions and commissions.
According to the company's representatives, the exchange is designed to compete with the leading players in the industry.
"Revolut X will change the game for experienced traders by providing them with a safe and affordable place to trade," explained the head of the company's cryptocurrency products department Leonid Bashlykov.
ForkLog announced the testing of the platform in February 2024.
Since September 2, 2023, Revolut has suspended the provision of cryptocurrency services in the United States due to the "changing regulatory environment and uncertainty around the digital asset market."
Since January 3, the fintech company has imposed a ban on the purchase of cryptocurrencies for business clients from the UK due to new FCA requirements. On October 8, 2023, an updated digital asset advertising regime began operating in the country.
Recall that in March, Revolut launched the Revolut Ramp function, which will allow users to replenish their MetaMask wallets from a non-bank fiat account. The goal of the initiative is to make it easier for customers to purchase digital assets. The service will be available to residents of the UK and the European Union.
At the same time, it became known about the testing by the developers of a non-custodial crypto wallet of the Mastercard on-chain payment card issued by Baanx. The joint product will be "the first truly decentralized Web3 payment solution in history," the release said.