Revolut to Introduce Crypto Exchange Targeting ‘Advanced Traders’

Revolut to Introduce Crypto Exchange Targeting 'Advanced Traders'
  • Digital bank Revolut is testing a beta version of a cryptocurrency exchange targeted at “advanced traders.”
  • The exchange will offer lower fees than trading through the Revolut app alongside enhanced market analytics.

Digital bank Revolut is set to introduce a cryptocurrency exchange targeting “advanced traders,” according to a customer email seen by CoinDesk.

Revolut currently offers basic crypto services to many of its 30 million customers. The exchange will offer lower fees and enhanced market analytics.

“We’re launching a new crypto exchange, built with advanced traders in mind,” the email, which asked the customer to test the new platform, read. “You’ll find deeper analytical tools and lower fees than the app.”

Fees have been set between 0% and 0.09%, and functionality has been added to allow users to trade using limit and market orders. Limit orders are typically used when a trader wants to purchase or sell an asset at a specific price. Limit orders will incur no fees.

Revolut suspended crypto services for business customers in the U.K. in December, citing the Financial Conduct Authority’s (FCA) new regulations covering crypto promotions. The email seen by CoinDesk was received by a U.K.-based customer.

Earlier this week, it emerged that Revolut plans to list Solana’s biggest meme coin, BONK, in a “learn and earn” campaign that will see the distribution of BONK to some of its customers.

Revolut did not immediately respond to CoinDesk’s request for comment.