Revolut Launches Crypto Trading Platform for Experienced UK Traders
Global fintech giant Revolut has unveiled Revolut X, a standalone crypto trading platform tailored towards experienced traders in the United Kingdom. The platform offers access to over 100 tokens with competitive fixed fees of 0% for makers and 0.09% for takers.
Available Assets on Revolut X
Initially, Revolut X will offer the same crypto assets as the Revolut retail app, including popular coins like Bitcoin (BTC), Ether (ETH), and XRP. The company plans to expand its asset selection in the coming months to cater to the diverse needs of its traders.
Features and Benefits
* **Low Fees:** Traders benefit from fixed low fees, regardless of their trading volume.
* **Easy On/Off-Ramp:** Users can seamlessly move funds between Revolut and Revolut X without any fees or limits.
* **Purpose-Built Defenses:** Revolut X employs robust security measures to safeguard user assets.
* **Dedicated Platform:** The platform is designed specifically for experienced traders, providing advanced trading tools and insights.
Target Audience
Revolut X is primarily aimed at experienced traders who demand low fees, a wide range of assets, and a reliable and secure trading environment. The platform’s phased introduction suggests that Revolut is taking a cautious approach to ensure a smooth and successful launch.
Regulatory Compliance
The launch of Revolut X follows the company’s recent challenges in the regulatory landscape. In 2023, Revolut suspended crypto trading for UK business customers and terminated its US crypto services due to evolving regulations. However, the company remains committed to navigating the regulatory environment and providing compliant crypto services.
Conclusion
Revolut’s entry into the dedicated crypto exchange market with Revolut X marks a significant milestone for the company. By offering low fees, a wide selection of assets, and a platform designed for experienced traders, Revolut aims to establish itself as a leading player in the crypto trading space. The phased introduction of the platform demonstrates the company’s cautious approach to ensuring a seamless launch and compliance with regulatory requirements.
Mehek