Revolut Launches Revolut X Crypto Trading Platform for UK Retail Customers
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Revolut, the global fintech company and neobank, has made a significant entry into the cryptocurrency space with the introduction of Revolut X, a specialized crypto trading platform for retail customers in the United Kingdom. The platform, which aims to rival major cryptocurrency exchanges, offers easy access and minimal fees. Initially, Revolut X will enable trading for over 100 cryptocurrencies, including popular choices like Bitcoin (BTC), Ether (ETH), and XRP. However, the platform plans to expand its selection in the coming months. Revolut X features seamless conversion of fiat currencies like the British pound to cryptocurrencies and vice versa, referred to as "on-ramping" and "off-ramping." Notably, the platform charges fixed fees of 0% for makers and 0.09% for takers, regardless of the trading volume, potentially undercutting its competitors. Revolut X is designed with seasoned crypto traders in mind, but all UK users with a retail account can access the platform. They can seamlessly trade between the platform and their Revolut accounts without additional fees or limitations. Revolut stated that customers' digital assets are held 1:1 and never lent out. The majority of these funds are stored in cold storage, and rigorous custodian due-diligence and constant risk monitoring ensure a market-leading solution for customers. Revolut's move into the crypto space comes...
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