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Revolut launches the Revolut X cryptocurrency trading platform for UK retail customers
Revolut launches the Revolut X cryptocurrency trading platform for UK retail customers
Revolut, the global fintech company and neobank, has made a significant entry into the cryptocurrency space with the introduction of Revolut The platform, which aims to rival major cryptocurrency exchanges, offers easy access and minimal fees.
Initially, Revolut However, the platform plans to expand its selection in the coming months. Revolut Notably, the platform charges fixed commissions of 0% for makers and 0.09% for takers, regardless of trading volume, potentially undercutting its competitors.
Revolut X is designed with experienced cryptocurrency traders in mind, but all UK users with a retail account can access the platform. They can trade seamlessly between the platform and their Revolut accounts without any additional fees or limitations. Revolut said customers’ digital assets are held 1:1 and never lent. The majority of these funds are held in cold storage and the custodians’ rigorous due diligence and constant risk monitoring ensure a market-leading solution for clients.
Revolut’s entry into the cryptocurrency sector comes after it scaled back its cryptocurrency offering in the UK and US due to regulatory challenges. However, with the launch of Revolut X, the company demonstrates a renewed focus on cryptocurrencies. Revolut, which initially started as a money transfer service in the UK in 2015, has grown into one of the country’s largest fintech companies, boasting more than 40 million users worldwide. In 2017, it began allowing users to buy, hold and trade cryptocurrencies.