British multinational fintech firm Revolut is leveling up its stand-alone crypto alternate platform.
Over the previous 12 months, main U.Okay. fintech Revolut has been angling to higher compete with crypto exchanges like Binance and Coinbase. To this finish, the agency launched Revolut X in 2024 as a stand-alone crypto alternate platform for skilled merchants within the U.Okay.
In November 2024, it expanded this platform to 30 international locations within the European Financial Space. Now, the agency has taken one other step consistent with its ambitions.
In a Tuesday, March 25 press launch shared with The Crypto Primary, Revolut disclosed that it was launching a Revolut X cellular software and increasing it to serve retail merchants.
In accordance with the agency, the cellular software and repair growth represented “the following step to difficult different main exchanges,” arguing that it was now “nearer in-line” with the competitors.
The Revolut X app will permit customers to commerce over 220 tokens towards the U.S. greenback, the British pound, or the Euro. The platform can even provide prospects flat charges on these trades, as much as as little as 0%.
“With our crypto alternate already serving tens of 1000’s of consumers throughout the UK and EEA, we’re excited to be bringing them the cellular expertise they’ve been asking for,” Leonid Bashlykov, Head of Product – Crypto at Revolut, mentioned in a touch upon the app launch.
In the meantime, Revolut’s crypto ambitions don’t finish with the Revolut X app within the U.Okay. and EEA.
Revolut Plotting U.S. Return
A spokesperson confirmed to The Crypto Primary that the agency was certainly nursing an ambition to revive its crypto providers within the U.S., although it failed to supply a timeline.
Revolut shuttered its crypto providers for U.S. prospects in 2023 amid regulatory uncertainty because the Securities and Alternate Fee went after a number of crypto buying and selling platforms, together with Binance and Coinbase.
Nevertheless, this regulatory cloud might now be clearing, because the SEC seems to have taken a positive activate crypto beneath President Donald Trump’s administration. Particularly, the SEC has paused and dismissed a number of crypto enforcement actions.
Nonetheless, Revolut could also be ready for concrete guidelines earlier than making its transfer. To this finish, the SEC has already kicked off a sequence of spherical tables with trade individuals.
