It seems that the digital fintech app Revolut has started to onboard experienced traders onto its cryptocurrency exchange platform called Revolut X.
Tl;dr
- Revolut is gradually introducing its cryptocurrency exchange, Revolut X.
- Access is exclusive to professional traders, indicating a cautious approach.
- No public announcement has been made about this.
- Revolut already has an established presence in cryptocurrency services.
Revolut, a Progressive Entry into Cryptocurrency Exchange
The British fintech company Revolut seems to be taking a phased approach to entering the world of cryptocurrency exchanges with its new tool, Revolut X. This gradual approach signifies a different strategy from the traditional methods used for deploying services in the cryptocurrency market.
Selective Access for a Smooth Launch
According to notifications sent to a limited group of users in the UK, Revolut has reserved access to Revolut X exclusively for professional traders. In other words, the company is taking a cautious approach which contrasts with the more aggressive approaches seen in the market. It is understood that Revolut X offers the ability to switch from fiat to cryptocurrency between Revolut and Revolut X, with minimal transaction fees.
A Discreet Development
Very little information has been revealed so far about this significant development. Indeed, Revolut has not made any public announcement regarding the implementation of its new tool. It seems that this London-based company wants to make its mark in the competitive environment of cryptocurrency exchanges quietly.
A Long-Planned Project
It appears that the possibility of developing its own cryptocurrency exchange platform has been part of the company’s plans for some time. In 2021, there were reports that the British fintech company was looking for someone to “design and build the Revolut cryptocurrency exchange.” Now valued at $25.7 billion, Revolut seems determined to strengthen its range of services in the cryptocurrency field, to the benefit of its 30 million customers worldwide.