Revolut, the U.K.-based fintech platform, has taken a significant step in expanding its crypto offerings with the launch of a new mobile crypto exchange app, Revolut X. This latest move brings the power of crypto trading to users across the United Kingdom and the European Economic Area (EEA), offering access to over 400 cryptocurrency pairs and 220 digital tokens directly from their smartphones.
A New Era for Crypto Trading on Mobile
Revolut X, which aims to provide an intuitive and secure trading experience, allows both seasoned traders and newcomers to easily navigate the world of cryptocurrencies. The app offers a streamlined interface that makes trading accessible while incorporating robust security measures to ensure a safe environment for users. According to Leonid Bashlykov, the head of crypto at Revolut, the app is designed to meet the needs of a diverse range of traders, providing them with a powerful yet straightforward mobile trading experience.
“We’ve created a simple yet powerful experience designed to meet the needs of both new and seasoned traders, with the added benefit of rigorous security measures that customers can bank on,” said Bashlykov in a recent announcement.
Expanding Revolut’s Crypto Offerings
The launch of Revolut X marks the latest chapter in Revolut’s ongoing efforts to expand its presence in the crypto market, which began in 2021. While the platform initially focused on providing crypto services through its main app, the introduction of Revolut X is a significant leap, offering a more specialized crypto exchange with advanced features for users in the U.K. and EEA.
In November 2024, Revolut had already announced plans to expand Revolut X to 30 markets across Europe, following the successful launch of a standalone crypto exchange earlier that year. The desktop version of this exchange was initially targeted at professional traders, while the mobile app is aimed at providing easy access for both casual and experienced users alike.
A Competitive Edge in the Crypto Space
While Revolut is not a crypto-native company, its expansion into digital assets signals the platform’s ambition to capture market share in a rapidly growing industry. With over 45 million users worldwide, Revolut has steadily grown its crypto services over the years. In addition to offering crypto trading through Revolut X, the company introduced crypto staking for U.K. and EEA users in June 2023. Furthermore, Revolut also offers a crypto-linked card, allowing users to spend their digital assets in everyday transactions.
Revolut’s crypto offerings aim to compete with major platforms like Coinbase and Crypto.com, which currently dominate the space. By providing a more seamless and secure crypto trading experience, Revolut is positioning itself as a strong contender in the increasingly crowded market.
Timing and Global Regulatory Clarity
The launch of Revolut X comes at a time when the global crypto market is gaining momentum, bolstered by growing regulatory clarity in several jurisdictions. As more countries introduce clear and comprehensive regulations for digital assets, platforms like Revolut are poised to capitalize on the expanding market opportunities.
Revolut’s ability to adapt to the evolving regulatory landscape while offering an accessible and secure platform for crypto trading could prove to be a key advantage in attracting a wider user base, from both novice traders and experienced investors.
Looking Ahead: What’s Next for Revolut?
With the launch of Revolut X and the expansion of its crypto services, Revolut is setting the stage for continued growth in the digital asset space. As the platform increases its offerings and reaches more markets, it is well-positioned to attract more users and traders to its ecosystem.
The company’s commitment to security, ease of use, and expanding its crypto offerings indicates that Revolut intends to remain at the forefront of fintech innovation, further solidifying its position in the competitive crypto market.
As the app becomes available to more users across the U.K. and EEA, the next steps will likely include further expansions, updates to enhance the user experience, and the addition of more advanced crypto features. The future of Revolut in the crypto space is looking bright as it continues to evolve with the industry.
