Revolut launches crypto exchange for experienced traders in UK

Digital fintech app Revolut has reportedly started hiring experienced investors on its cryptocurrency exchange called Revolut X.

British fintech company Revolut has begun a phased rollout of its cryptocurrency exchange Revolut X as part of a heavy focus on cryptocurrency initiatives.

Based on notifications circulating Among a select group of users in the UK, Revolut only granted access to professional investors; This indicates a cautious approach compared to traditional service delivery methods in the crypto market. Preliminary reports indicate that Revolut X allows users to switch from fiat to crypto between Revolut and Revolut X, storing assets in “purpose-built defenses.” It is understood that the exchange charges zero fee to the person performing the transaction and 0.09% fee to the buyer.

So far, Revolut has not made any public statement regarding its latest development. Crypto.news has reached out for comment and we will update the article if we hear back.

Revolut has been considering establishing its own cryptocurrency exchange for some time. The first reports of this plan emerged in 2021, when the London-based company began looking for someone to lead the team that would “design and build the Revolut Crypto exchange.”

The fintech company, which had a valuation of $25.7 billion as of April, has been offering crypto services for several years. As of June 2023, Revolut had more than 30 million customers worldwide and offers access to more than 50 tokens.