Revolut Launches Revolut X: A Standalone Crypto App with 0% Fees to Rival Coinbase

Revolut, the London-based financial technology company known for its innovative approach to banking, has officially launched its standalone cryptocurrency trading application, Revolut X.

Announced on March 26, Revolut X brings users an enhanced mobile experience with access to over 200 tokens and maker fees as low as 0%. It aims to compete with major cryptocurrency exchanges and expand its operations beyond Europe, targeting the lucrative U.S. market.

What is Revolut?

Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, Revolut began as a fintech startup offering multi-currency banking services. Over the years, it has grown into a global financial super-app, providing services such as foreign exchange, stock trading, and cryptocurrency buying and selling. With over 25 million users worldwide, Revolut has positioned itself as a pioneer in digital banking and fintech innovation.

Highlights of Revolut X

Revolut X is designed to cater to both novice and professional cryptocurrency traders. The app offers advanced trading features such as analytical tools, lower fees, and tighter spreads compared to its competitors. Users can trade over 200 cryptocurrencies and seamlessly switch between fiat and crypto through their linked Revolut accounts. This integration ensures a smooth user experience, setting Revolut X apart from standalone exchanges like Binance or Coinbase.

Additionally, Revolut X promises enhanced security measures and a user-friendly interface, making it an attractive choice for traders seeking a reliable platform. The app also includes features like instant on-and-off ramping, allowing users to quickly convert between fiat and crypto without incurring additional fees.

Compliance Advantage in Europe

As a company that originated in Europe, Revolut has a significant compliance advantage in the region. It operates under the European Union's regulatory framework, which is known for its stringent standards. This gives Revolut X a competitive edge, as it can assure users of a higher level of trust and security compared to some offshore exchanges. Furthermore, Revolut has already secured licenses to operate in multiple jurisdictions, including the European Economic Area (EEA) and the UK, making it one of the most compliant crypto trading platforms in the market.

Expansion Plans

Revolut’s decision to launch Revolut X comes as part of its broader strategy to solidify its presence in the cryptocurrency sector. While the app is currently available to users in the UK and Europe, the company has announced plans to expand into the U.S. market. This move aligns with the growing demand for cryptocurrency services in North America and positions Revolut as a global competitor in the crypto trading space.

The launch of Revolut X comes at a time when competition in the cryptocurrency trading sector is intensifying. With the crypto market experiencing renewed growth, fintech companies such as Robinhood, eToro, Stripe, and PayPal are all expanding their crypto offerings to compete with industry giants like Coinbase and Binance.

With its strong compliance framework, user-friendly design, and advanced trading features, Revolut X is poised to make a significant impact in the cryptocurrency ecosystem.