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Revolut Takes Next Step to Rival Major Crypto Exchanges With New Mobile App
British multinational fintech company Revolut is leveling up its stand-alone crypto exchange platform. Over the past year, leading U.K. fintech Revolut has been angling to better compete with crypto exchanges like Binance and Coinbase. To this end, the firm launched Revolut X in 2024 as a stand-alone crypto exchange platform for professional traders in the U.K.
In November 2024, it expanded this platform to 30 countries in the European Economic Area. Now, the firm has taken another step in line with its ambitions. In a Tuesday, March 25 press release shared with The Crypto Basic, Revolut disclosed that it was launching a Revolut X mobile application and expanding it to serve retail traders.
According to the firm, the mobile application and service expansion represented “the next step to challenging other major exchanges,” arguing that it was now “closer in-line” with the competition. The Revolut X app will allow users to trade over 220 tokens against the U.S. dollar, the British pound, or the Euro. The platform will also offer customers flat fees on these trades, up to as low as 0%.
“With our crypto exchange already serving tens of thousands of customers across the UK and EEA, we’re excited to be bringing them the mobile experience they’ve been asking for,” Leonid Bashlykov, Head of Product – Crypto at Revolut, said in a comment on the app launch.
Meanwhile, Revolut’s crypto ambitions do not end with the Revolut X app in the U.K. and EEA.
Revolut Plotting U.S. Return
A spokesperson confirmed to The Crypto Basic that the firm was indeed nursing an ambition to restore its crypto services in the U.S., though it failed to offer a timeline. Revolut shuttered its crypto services for U.S. customers in 2023 amid regulatory uncertainty as the Securities and Exchange Commission went after several crypto trading platforms, including Binance and Coinbase.
However, this regulatory cloud may now be clearing, as the SEC appears to have taken a favorable turn on crypto under President Donald Trump’s administration. In particular, the SEC has paused and dismissed several crypto enforcement actions. Still, Revolut may be waiting for concrete rules before making its move. To this end, the SEC has already kicked off a series of round tables with industry participants.
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