- Two popular dog-themed coins enter Revolut’s new crypto ecosystem.
- The Revolut X platform centers on advanced traders and imposes smaller fees.
- Besides over 100 cryptos in selection, Revolut offers new research tools.
The London-headquartered neobank Revolut is launching its highly anticipated Revolut X crypto exchange today. It is the first bank to have a standalone crypto exchange. Revolut announced an advanced cryptocurrency exchange in February 2024, with the United Kingdom being the first destination for the new crypto platform.
Currently, Revolut X takes no maker fees, while the taker fees are limited to 0.09%. Along with the new crypto platform, Revolut listed multiple popular memecoins, including Bonk (BONK), Floki (FLOKI), and Worldcoin (WLD). With over 40 million customers globally, Revolut now supports over 100 cryptocurrencies.
What Does Revolut X Bring to the Crypto Table?
Besides offering crypto services outside the main Revolut app, Revolut X offers a bundle of financial research tools. Tools like the Relative Strength Index (RSI) can help advanced traders understand when the analyzed cryptocurrency is overbought or oversold.
Besides the more elaborate crypto analytics, Revolut X brings significantly lower transaction fees than the standard in-app exchange. Focused on advanced traders, Revolut X drives a bargain with 0.09% taker fees, compared to Revolut’s in-app crypto fees of up to 1.5%.
Following the news, canine coins Bonk and Floki slipped by 7% over the past 24 hours as the general crypto markets faced a slight correction on Tuesday. In contrast, Sam Altman’s WLD soared in 24-hour trading volume, topping $545M on all platforms. The digital identity project’s native WLD coin retraced just 3.9% after inking 29.9% gains over the past seven days, trading at $6.12 as of press time.
On the Flipside
- Due to the Financial Conduct Authority’s (FCA) revision of regulation on crypto promotions, Revolut suspended their crypto offerings for British business clients.
- Revolut X has yet to be released to clients in the European Union (EU) and the United States (USA).
Why This Matters
Merging traditional finance with blockchain technology has played a key role in crypto adoption, as seen earlier this year with the introduction of Bitcoin Spot exchange-traded funds (ETFs).
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