Revolut, the challenger bank known for its innovative financial services, has launched a new standalone crypto exchange platform called Revolut X, described as “The Crypto Exchange for Pros, made by Pros.”
A New Step for Revolut
With a global customer base of 40 million, Revolut was among the first neo-banks to offer cryptocurrency trading to its users. This service, tailored to casual traders and crypto savers, has proven successful, providing all the necessary tools for these users.
Now, Revolut aims to capture a larger share of the crypto market by introducing a professional-grade crypto exchange.
Introducing Revolut X
Revolut X is a dedicated crypto trading platform designed for professional traders. The platform was launched without prior announcement, surprising the market with its sudden debut.
Initially available in the UK, Revolut X does not require a professional trading certification. Any customer with the Revolut app can access the new trading platform. The integration between the app and the desktop platform allows for seamless transfers between fiat and crypto, with no fees for these transfers.
User-Friendly and Cost-Effective
Revolut X offers a user-friendly interface that professional and ambitious crypto traders will appreciate. The fee structure is particularly attractive: 0% fees for makers who provide liquidity through limit orders and 0.09% for takers who buy assets. These low, fixed fees, regardless of trading volume, position Revolut X competitively from the start.
Comprehensive Offerings
At launch, Revolut X supports trading for over 100 cryptocurrencies and tokens, with plans to expand this offering. The platform also includes real-time trading, information, and analysis tools to attract new customer segments.
Following the success of its finance app for casual traders, Revolut aims to appeal to professional and sophisticated traders with this new platform. The company aspires to compete directly with leading crypto exchanges.
A Competitive Edge
Leonid Bashlykov, Head of Crypto Exchange Product at Revolut, summarized the motivation, plans, and goals:
“Today, Revolut offers the UK crypto community the opportunity to interact with over 100 tokens through a standalone, top-tier exchange platform. We are excited about the launch of our new crypto product and believe this premier trading platform will transform the game for experienced crypto traders, providing them with a safe and accessible place to trade.
“We put the customer at the center of everything we do and understand that competitive fees and simple on- and off-ramping are critical to what experienced traders demand 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 empower our customers to grow their wealth further, whether in fiat or crypto.”
Revolut’s move into the professional crypto trading space with Revolut X marks a significant expansion of its crypto services, aiming to provide advanced traders with a competitive and comprehensive trading experience.