As a seasoned researcher with a keen interest in fintech and cryptocurrencies, I can’t help but feel a sense of excitement at the news of Revolut X’s expansion across the European Economic Area (EEA). Having closely followed the growth and development of this innovative neobank, I’ve witnessed its relentless pursuit to democratize finance and blur the boundaries between traditional banking and the digital economy.
Financial technology company Revolut, known for its support of cryptocurrencies, is extending its cryptocurrency trading platform (Revolut X) to an additional 30 markets within the European Economic Area (EEA), marking a significant expansion.
In simpler terms, the financial technology firm, Revolut X, designed for experienced cryptocurrency traders, has been launched in all 30 European Economic Area (EEA) countries such as Belgium, Cyprus, Denmark, among others. This announcement was made to CryptoMoon on November 13th.
Under this latest update, customers within the European Economic Area who meet certain criteria now have the ability to trade over 200 different types of cryptocurrencies and tokens through their Revolut banking account.
The expansion follows Revolut X’s debut in the UK
Revolut X, a cryptocurrency exchange exclusively created by Revolut, recently expanded its reach within the European Economic Area (EEA). This move follows the debut of their dedicated crypto trading platform in the United Kingdom, which took place in May. The Revolut X platform caters to experienced cryptocurrency traders as well as retail customers.
Much like how Revolut X caters to sophisticated cryptocurrency traders in the UK with its advanced trading tools, this exchange aims at a similar demographic of experienced traders. Notably, Revolut X is now accessible to anyone within the European Economic Area (EEA) or the United Kingdom who holds a Revolut account, as confirmed by a representative from the company to CryptoMoon.
With no charges for maker orders (which typically have lower fees but may take more time to process) and a swift execution of taker orders against Revolut’s current order book, Revolut X imposes a fee of 0.09% on taker orders across all levels of crypto trading volume.
Revolut X users must have an EEA or UK-based Revolut account
For users in the European Economic Area (EEA) and the United Kingdom to utilize Revolut X, they should already have a Revolut account based within these regions. This platform offers various trading functionalities such as instant trading, sophisticated analysis tools, TradingView tracking features, dashboards, and additional resources.
Revolut X assures that their customer service is available round-the-clock. Most of the funds are held securely in offline storage, although they did not disclose the exact proportion kept in cold storage.
The statement highlights that Revolut’s top-tier security mechanisms, designed for preventing unauthorized access (account takeovers), are always active. Furthermore, reliable custodians are chosen following a thorough verification process.
Expanding Revolut X across Europe underscores Revolut’s dedication to the cryptocurrency sector, a move that follows the successful debut of Revolut Ramp. This innovative service allows traders to instantly purchase crypto within their wallets by partnering with leading platforms such as MetaMask and Ledger.
As we broaden the scope of Revolut X, our goal is to create a significant presence in the cryptocurrency trading market, providing a robust competitor to well-established platforms. This was emphasized by Leonid Bashlykov, head of Revolut’s crypto exchange product, in his recent statement.
“Crypto aligns with Revolut’s firm belief in a world of banking without borders and our mission to help people find financial freedom.”
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2024-11-13 14:06