Revolut X Launch: New Crypto Exchange Targets Pros, Undercuts Fees

Key Takeaway

• Revolut launches Revolut X, a crypto exchange for professional traders, with over 40 million customers globally.
• The exchange offers competitive fees: zero for the trade maker and 0.09% for the taker.
• This move positions Revolut among the first banks to create a standalone crypto exchange.

Revolut Launches Crypto Exchange

Digital banking pioneer Revolut has officially entered the competitive crypto exchange market with the launch of Revolut X, targeting professional cryptocurrency traders. With a customer base exceeding 40 million globally, the London-based fintech giant aims to carve out a significant niche within the crypto trading landscape. This move comes after years of facilitating crypto transactions within its app, signaling a strategic pivot towards a more dedicated crypto trading platform.

Competitive Fee Structure

Revolut X distinguishes itself with an aggressive fee strategy designed to attract high-volume traders. The exchange will implement a zero-fee policy for trade makers, while charging a modest 0.09% fee to trade takers. This pricing model undercuts many of Revolut's competitors, potentially reshaping fee standards across the crypto exchange industry. The decision to offer lower fees through Revolut X, as opposed to its app, underscores the company's commitment to providing value-driven services to its users.

A Standalone Exchange

The introduction of Revolut X marks a significant milestone for Revolut and the broader banking industry's engagement with cryptocurrency. By developing a standalone exchange, Revolut is not only expanding its service offerings but also positioning itself as a frontrunner among banks venturing into the dedicated crypto exchange space. This strategic expansion reflects a growing recognition of cryptocurrency's potential and a commitment to meeting the sophisticated needs of professional traders.