May 7, 2024
Revolut Launches UK Crypto Exchange as Digital Assets Recover
Bloomberg News
,(Bloomberg) -- British banking app Revolut Ltd. launched its UK crypto exchange, expanding in the digital-assets space after prices recovered in the past year.
The new platform, called Revolut X, will allow “experienced traders” to buy and sell over 100 different tokens, according to a statement on Tuesday. Fees will range from zero to 0.09%, and investors must have a Revolut retail account to trade on the venue.
Revolut is making the crypto push just as regulators around the world tighten controls following a string of high-profile scandals in the nascent industry. Robinhood Markets Inc. said on Monday that it has received a Wells Notice from the US Securities and Exchange Commission about its crypto business, meaning it faces an enforcement action.
In August last year, London-based Revolut announced it would stop offering crypto trading services to US-based customers, citing market uncertainty and changes to the local regulatory landscape.
Read more: Revolut to Halt US Crypto Activity Over Regulatory Environment
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