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Revolut Launches Low Fee Crypto Exchange in the UK

Crypto | May 7, 2024

Revolut X - Revolut Launches Low Fee Crypto Exchange in the UK

Image: Revolut X

Revolut Launches Revolut X, a New Crypto Trading Platform in the UK

Revolut, a leading fintech company, has announced Revolut X, a dedicated crypto trading platform for U.K. retail customers. This strategic move aims to provide traders with a cost-effective and user-friendly platform for cryptocurrency transactions. Revolut X is differentiating itself by offering low fixed fees and easy fiat-to-crypto conversions, looking to appeal to both seasoned and new crypto traders.

  • Revolut X offers a highly competitive fee structure, charging 0% for makers and a mere 0.09% for takers. This fee model undercuts many of the existing major players in the cryptocurrency exchange market, potentially attracting a large volume of active crypto traders.
  • The platform supports seamless integration with existing Revolut accounts, allowing users to switch between crypto trading and other financial services without additional fees. This integration enhances user experience by simplifying the process of managing finances and crypto assets in one place.

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  • In response to stringent regulatory expectations, Revolut X ensures that all user assets are held 1:1 and predominantly in cold storage. This approach enhances the security of the digital assets and also aligns with the financial regulatory frameworks, emphasizing a compliance-first strategy.
  • Initially, Revolut X will support trading in over 100 cryptocurrencies, including major ones like Bitcoin, Ethereum, and Ripple. Plans for expanding the range of tradable cryptocurrencies are set for the coming months, broadening the appeal to a wider audience of crypto enthusiasts.

Strategic Expansion

Revolut's venture into the cryptocurrency market represents a significant aspect of its broader strategy to innovate and diversify its fintech offerings. The company has progressively expanded its cryptocurrency initiatives over the years, showcasing a strong commitment to integrating digital currency solutions into its core services.

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Revolut introduced Revolut Ramp in March 2024. This service enables users to purchase cryptocurrencies directly within their Web3 wallets, such as through a partnership with Consensys, the developer of MetaMask. Revolut Ramp represents a bridge between conventional banking services and decentralized financial (DeFi) applications, making cryptocurrency transactions more accessible and seamless for users.

Closing

The launch of Revolut X is an expansion of services coincides with a bullish phase in the crypto market, coupled with clearer regulatory landscapes. This timing could maximize the platform's adoption and effectiveness, tapping into the growing demand for reliable and efficient crypto trading solutions.


NCFA Jan 2018 resize - Revolut Launches Low Fee Crypto Exchange in the UKThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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