The exchange gives UK users a new look at the cryptocurrency markets
Global neobank and Fintech firm Revolut recently entered the cryptocurrency space after introducing their new crypto trading platform to retail consumers in the UK. The company announced the launch of its Revolut X platform in a press release on May 7. This platform competes with bigger competitors by giving customers easy access for nominal fees.
The platform’s simple “on-ramping” and “off-ramping” process allows customers to quickly convert fiat currencies to crypto with no fee for makers. Takers will pay a 0.09% fee, which is much lower than competitors, and there is no limit on trading volume.
Revolut’s head of crypto exchange products, Leonid Bashlykov, says the firm is “excited” to launch its new platform that could “change the game for experienced crypto traders.”
“We 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,” he added.
Current UK retail customers can access Revolut X to trade assets using their Revolut accounts without additional fees or restrictions. Over 100 cryptocurrencies will be offered on the new platform, and the number is expected to continue increasing in the coming months.
Bashlykov stated that creating Revolut X was a progression the company has been “thinking about taking for a while.” He added, “It’s good timing, in the sense that we’re currently amid a bull market and seeing greater regulatory clarity now.”
Revolut launched Revolut Ramp in March 2024, a collaboration with MetaMask developer Consensys that lets users buy crypto directly from their Web3 wallets. However, it had begun offering money transfers in the UK in 2015. It’s now one of the biggest fintech companies, with more than 40 million global customers. Users first started trading crypto on the platform in 2017.
