Revolut, a popular fintech company, has recently unveiled its latest venture, Revolut X, a specialized platform for cryptocurrency trading aimed at retail customers in the United Kingdom.

Introduction to Revolut X

Revolut X, launched on May 7, is designed to cater to a specific group of customers and competes directly with major cryptocurrency exchanges. The platform promises easy access and charges minimal fees, making it an attractive option for those interested in crypto trading.

Features of Revolut X

One of the standout features of Revolut X is its seamless conversion between fiat currencies like the British pound and cryptocurrencies. This feature, known as “on-ramping” and “off-ramping,” simplifies the process of buying and selling crypto for users. Additionally, Revolut X boasts fixed fees, with makers paying 0% and takers paying 0.09%, regardless of their trading volume.

Expansive Cryptocurrency Selection

Initially, Revolut X offers trading for over 100 cryptocurrencies, including popular options like Bitcoin, Ethereum, and XRP. The platform plans to expand its selection further in the coming months, catering to a diverse range of investor preferences.

Security Measures

Revolut emphasizes the security of its platform, assuring customers that their digital assets are held securely and never lent out. The majority of these funds are stored in cold storage, and rigorous custodian due diligence and risk monitoring ensure the safety of users’ assets.

Accessibility for Users

While Revolut X is designed with experienced crypto traders in mind, it is accessible to all U.K. users with retail accounts. Users can access the platform directly with their existing credentials and trade seamlessly between Revolut X and their Revolut accounts without facing additional fees or limitations.

Regulatory Compliance and Company Background

Revolut’s decision to introduce Revolut X reflects its commitment to compliance with legal and regulatory requirements in all jurisdictions where it operates. The company has advocated for regulation in the crypto market to ensure consumer protection and a level playing field.

The launch of Revolut X marks a significant step for Revolut as it reaffirms its focus on cryptocurrency services. This move comes after the company faced regulatory challenges in both the U.K. and the United States, highlighting its dedication to navigating the evolving landscape of the crypto industry.