Revolut Launches Revolut X, a New Cryptocurrency Exchange Aimed at Experienced Traders, in a Move to Compete with Leading Platforms
Revolut has officially launched its cryptocurrency exchange, Revolut X, specifically designed for experienced traders. This strategic move is aimed at positioning the company as a strong competitor against the top cryptocurrency platforms. The plans for launching this exchange were first revealed in February 2024.
As a neobank with over 40 million customers worldwide, Revolut's expansion into the crypto exchange market marks a significant step in its business evolution. According to a report by CoinDesk, which cited an email from the company, Revolut X is not just another crypto trading platform. The company emphasizes that it wants its users to engage with the new exchange for all their trading activities, rather than buying and selling crypto assets through the standard Revolut app.
In a statement, Revolut clarified its competitive fee structure: "Revolut will not charge a maker fee, but there will be a 0.09% fee for takers." This pricing strategy could attract traders looking for cost-effective trading options.
Furthermore, back in March 2023, Revolut announced a partnership with the cryptocurrency wallet MetaMask, which highlights its ongoing commitment to integrating more deeply with the cryptocurrency ecosystem.
With the introduction of Revolut X, coupled with advanced analytics and low fees, Revolut is not only expanding its services but also enhancing the trading experience for its clientele. This development is a clear indicator of Revolut's strategic direction in the competitive landscape of cryptocurrency exchanges.
