Fintech giant Revolut is making waves in the cryptocurrency world once again. The company is expanding its standalone crypto exchange, Revolut X, to 30 new markets across the European Economic Area (EEA). This move solidifies Revolut’s commitment to becoming a major player in the digital asset space.
Revolut X launched earlier this year, targeting experienced crypto traders. The platform boasts a range of features designed for active trading. This includes real-time analytics, advanced charting tools, and over 200 cryptocurrencies.
“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,” said Leonid Bashlykov, Head of Product at Revolut’s crypto exchange.
Building on a Strong Foundation
This expansion builds on Revolut’s existing presence in the crypto market. The company has been offering crypto trading services since 2017. It currently boasts over 45 million customers globally.
Revolut has also been proactive in preventing fraud. In recent months, they prevented $13.5 million in potentially fraudulent crypto transactions. Revolut X emphasizes security. It uses cold storage for the majority of user funds. Likewise, the firm employs risk monitoring tools to enhance security and prevent breaches.
Revolut Shows Signs of Broader Crypto Ambitions
Revolut’s ambitions in the crypto space extend beyond just trading. The company is reportedly developing its own stablecoin. This would allow users to transact with a digital currency pegged to a stable asset, like the US dollar. This move could further integrate crypto into Revolut’s ecosystem of financial products.
Revolut’s aggressive expansion in the crypto market reflects a broader trend that sees several fintech companies jumping on the growing importance of digital assets. This is particularly true since institutional investors started to show greater interest in the industry. By doing the same, Revolut is positioning itself at the forefront of this financial revolution.
