Cryptocurrency-friendly neobank Revolut is expanding its crypto exchange in Europe, rolling out Revolut X in 30 new markets across the European Economic Area (EEA).
Revolut X, which targets professional crypto traders, is now officially available for customers across all 30 EEA countries, including Belgium, Cyprus, Denmark and others, the company announced to Cointelegraph on Nov. 13.
With the new rollout, eligible customers in the EEA can trade more than 200 cryptocurrencies and tokens using a Revolut bank account.
The expansion follows Revolut X’s debut in the UK
Revolut X’s expansion in the EEA comes a few months after Revolut debuted its dedicated crypto exchange in the United Kingdom in May. The Revolut X exchange was developed solely by Revolut, targeting seasoned crypto traders but also supporting retail customers.
Similar to Revolut X’s services in the UK, the exchange targets experienced crypto traders with its advanced features. However, Revolut X is now available to anyone EEA or UK-based with a Revolut account, a spokesperson for the company told Cointelegraph.
While taking zero fees for maker orders — or those associated with lower fees but longer order processing times — Revolut X charges 0.09% for taker orders, which are executed instantly with Revolut’s existing orders in the order book. The same fees apply no matter the crypto trading volume.
Revolut X’s pricing details. Source: Revolut X
Revolut X users must have an EEA or UK-based Revolut account
To use Revolut X, eligible EEA and UK customers must have an EEA or UK-based Revolut account. The platform provides several trading features, including real-time trading and advanced analytics, TradingView monitoring tools, dashboards and more.
Revolut X says its customer support is open 24/7, with the majority of funds being kept in cold storage. The firm declined to specify what share of funds is stored in cold storage.
“Revolut’s market-leading risk monitoring tools work constantly to prevent account takeovers, while trusted custodians are selected after a carefully conducted due diligence process,” it noted in the announcement.
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Revolut X’s expansion into Europe highlights the company’s ongoing involvement in the crypto industry, building on the introduction of Revolut Ramp. This feature allows users to purchase cryptocurrency directly into their wallets through partnerships with prominent platforms like MetaMask and Ledger.
“With the expansion of Revolut X, we’re aiming to make a real impact in the crypto trading space and offer a strong alternative to some of the more established platforms,” Revolut’s head of crypto exchange product, Leonid Bashlykov, said in the announcement, adding:
“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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