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Digital fintech app Revolut has reportedly started onboarding experienced traders on its cryptocurrency exchange dubbed Revolut X.
British fintech company Revolut has started what appears to be a phased introduction of its crypto exchange, Revolut X, as part of its intensified focus on cryptocurrency initiatives.
Based on notifications circulated among a select group of users in the U.K., Revolut has granted access exclusively to professional traders, indicating a cautious approach compared to traditional methods of service rollout within the crypto market. Preliminary reports indicate that Revolut X allows users to switch from fiat-to-crypto between Revolut and Revolut X, storing assets on “purpose-built defences.” The exchange is understood to charge zero fees to the maker of a trade and 0.09% to the taker.
So far, Revolut made no public announcement regarding its latest development. Crypto.news reached out for comment and we will update the article if we hear back.
Revolut has been thinking about starting its own crypto exchange for a while now. Early reports about this plan came out in 2021, when the London-headquartered company started looking for someone to lead the team “to architect and build Revolut Crypto exchange.”
The fintech company, which has a $25.7 billion valuation as of April, has been offering crypto services for several years. As of June 2023, Revolut had over 30 million customers worldwide and offers exposure to more than 50 tokens.
