Revolut's Crypto Exchange Goes Live for Experienced Traders
London-based Revolut, which has more than 40 million customers worldwide, has developed Revolut X to compete with leading crypto exchanges
May 7, 2024 at 6:00 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/NYACOLBYLFAFTMWHN6BWJROVAQ.jpg)
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- Revolut told customers it was set to introduce a crypto exchange in February.
- Revolut is among the first banks to build a standalone exchange to offer customers crypto trading.
Digital bank Revolut's crypto exchange Revolut X is now available to professional cryptocurrency traders.
London-based Revolut, which has more than 40 million customers worldwide, has developed Revolut X to compete with leading crypto exchanges.
Having allowed the buying and selling of crypto within its app for several years, Revolut told customers in February that it was set to introduce an exchange.
The standalone exchange is designed to entice users to trade through it rather than buying and selling with the Revolut app by offering lower fees. Revolut will charge zero fees to the maker of a trade and 0.09% to the taker, according to an emailed announcement on Tuesday.
While some banks offer cryptocurrency trading to customers in some form, Revolut is among the first to build a standalone crypto exchange for this purpose.
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Jamie Crawley is a CoinDesk news reporter based in London.