Revolut is set to expand its crypto exchange, Revolut X, to 30 European markets following a successful launch in the UK.
Since its debut in May, tens of thousands of traders have utilized the platform, gaining access to over 200 digital tokens with no fees for limit orders and a 0.09% fee for market orders. Leonid Bashlykov, Revolut’s head of product for the crypto exchange, noted that feedback from experienced traders has been overwhelmingly positive. Many are benefiting from the near-zero fees, the diverse asset range, and the seamless integration with their Revolut accounts. “With the expansion of Revolut X, we aim to make a significant impact in the crypto trading space and provide a compelling alternative to established platforms,” he stated.
The company plans to adopt a compliance-first approach for its cryptocurrency offerings across the EU, further aligning with its core banking services as it seeks to capture a larger share of the crypto market.
In September, Revolut introduced dedicated crypto payment cards, enabling users to spend on everyday items. These virtual cards, compatible with Apple Pay and Google Pay, allow customers to make in-person and online purchases using crypto, covering everything from major expenses to daily essentials like commuting and coffee.
Additionally, the crypto-focused bank has expressed intentions to launch its own stablecoin, aiming to compete with established players such as PayPal, Ripple, BitGo, and Circle for market presence.