Revolut Bank expands crypto exchange to 30 European markets

Revolut’s crypto trading platform, Revolut X, has expanded across 30 new markets within the European Economic Area (EEA), allowing users to trade over 200 cryptocurrencies through their Revolut bank accounts.

The neobank announced that Revolut X is now available for professional and retail traders across all 30 EEA nations, including Belgium, Cyprus, and Denmark.

Leonid Bashlykov, Revolut’s head of crypto exchange products, stated that the platform’s expansion in the EEA seeks to create a “strong alternative” to existing exchanges, aligning with Revolut’s broader mission of “banking without borders” and financial independence. 

Revolut X offers several features designed to appeal to advanced traders, such as zero fees for maker orders and a 0.09% fee for taker orders, regardless of trading volume.

Additional functionalities include real-time trading, advanced analytics, and TradingView monitoring tools, which allow users to track market movements closely. 

With these services, the bank said it aims to meet the demands of professional traders while also remaining accessible to regular Revolut account holders.

According to the company, it has taken careful steps to provide security for its users on Revolut X. 

To support secure trading, Revolut said it keeps most customer funds in cold storage and uses risk monitoring tools that constantly work to prevent account takeovers. However, the announcement did not specify the exact percentage of funds held in cold storage.

Further, the firm carefully selects its custodians via a comprehensive due diligence process and also offers 24/7 customer support to address any issues.

In early October, Revolut revealed it had prevented $13.5 million in potentially fraudulent crypto transfers between June and September, using its real-time monitoring and advanced algorithms with nearly 92% of crypto transactions processed without user intervention.

Revolut X initially debuted in the United Kingdom in May, where it was introduced as a dedicated platform for crypto trading.

Customers wishing to access Revolut X in the EEA or UK must hold a Revolut account based in these regions.

Soon after launching its crypto trading platform, Revolut received a UK banking license with restrictions from the Prudential Regulation Authority, marking its entry into the “mobilization stage.”

This “Authorisation with Restrictions” step allows Revolut to continue building out its UK banking operations before a full market launch.

Expanding crypto offerings

Revolut also introduced Revolut Ramp earlier in 2024, a service that allows customers to buy cryptocurrencies directly in their wallets through integrations with major platforms, such as hardware wallet maker Ledger.

Revolut’s commitment to enhancing its crypto offerings is further evident through its partnerships. 

In a collaboration with MetaMask, Revolut allowed customers in the UK and EEA to purchase multiple cryptocurrencies directly within the MetaMask web3 wallet using fiat currency.

Revolut also added the memecoin Floki Inu on Revolut Business, its platform designed for companies to manage multi-currency accounts, payments, and expenses. Shortly after the listing, Floki Inu saw its price jump more than 10%.

Additionally, the bank has also collaborated with the Solana-based memecoin Bonk to launch a “Learn and Earn Campaign” aimed at boosting user engagement with the token.

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