The fintech expands its standalone crypto exchange platform to 30 European markets following successful UK operations.
Recently, the company received UK banking license and announced works on its own stablecoin.
Digital
banking powerhouse Revolut has announced a significant expansion of its
cryptocurrency exchange platform, Revolut X, to 30 new markets across the
European Economic Area (EEA).
Revolut Expands Crypto
Exchange Across Europe
The
expansion follows the successful launch of Revolut X in the United Kingdom
earlier this year, where tens of thousands of traders have already embraced the
platform. The standalone crypto exchange offers users access to over 200
digital tokens with competitive pricing, including zero fees for limit orders
and a mere 0.09% fee for market orders.
"The
feedback from experienced traders has been very positive, with many already
taking advantage of our near-zero fees, wide range of available assets, and
seamless integration with their Revolut accounts," said Leonid Bashlykov,
Revolut's head of product for crypto exchange.
This
expansion positions Revolut as a formidable competitor in the European
cryptocurrency trading landscape. The company's approach combines traditional
banking services with innovative crypto offerings, setting it apart from both
conventional financial institutions and pure-play crypto exchanges.
“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,” added Bashlykov.
Revolut has
maintained a compliance-first approach, having secured necessary regulatory
approvals across its operating markets. The company recently received its UK
banking license in July 2024 and informed it wants to issue its own stablecoin.
The UK Banking License
after 3 Years of Efforts
The
Prudential Regulation Authority (PRA) granted Revolut a UK banking license with
certain restrictions, which is a standard approach for new entrants in the UK banking
sector. This provisional status enables Revolut to expand its banking operations before a full-scale launch incrementally.
The license
approval follows Revolut’s efforts to address regulatory concerns, particularly
around its financial reporting practices. Recently, the firm received an
unqualified audit opinion from the UK accountancy advisory firm BDO, resolving
earlier issues related to revenue recognition and IT systems.
With this
UK license, Revolut is now positioned to expand its product offerings in its
largest market, where it serves around 9 million customers, alongside a global
customer base of over 45 million. This step aligns with its European banking
license, which it secured through Lithuanian authorities in 2021.
Two months
ago, the company revealed plans to launch its own stablecoin, aiming to expand
its offerings in crypto-assets. By entering the stablecoin market, Revolut
seeks to join established players like PayPal, Ripple, and BitGo. Sources
suggest the firm is positioning itself as a significant player in the crypto
space, focusing on compliance and security for crypto users. Revolut’s
stablecoin plans emerge amid a wave of new entrants into the market.
Digital
banking powerhouse Revolut has announced a significant expansion of its
cryptocurrency exchange platform, Revolut X, to 30 new markets across the
European Economic Area (EEA).
Revolut Expands Crypto
Exchange Across Europe
The
expansion follows the successful launch of Revolut X in the United Kingdom
earlier this year, where tens of thousands of traders have already embraced the
platform. The standalone crypto exchange offers users access to over 200
digital tokens with competitive pricing, including zero fees for limit orders
and a mere 0.09% fee for market orders.
"The
feedback from experienced traders has been very positive, with many already
taking advantage of our near-zero fees, wide range of available assets, and
seamless integration with their Revolut accounts," said Leonid Bashlykov,
Revolut's head of product for crypto exchange.
This
expansion positions Revolut as a formidable competitor in the European
cryptocurrency trading landscape. The company's approach combines traditional
banking services with innovative crypto offerings, setting it apart from both
conventional financial institutions and pure-play crypto exchanges.
“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,” added Bashlykov.
Revolut has
maintained a compliance-first approach, having secured necessary regulatory
approvals across its operating markets. The company recently received its UK
banking license in July 2024 and informed it wants to issue its own stablecoin.
The UK Banking License
after 3 Years of Efforts
The
Prudential Regulation Authority (PRA) granted Revolut a UK banking license with
certain restrictions, which is a standard approach for new entrants in the UK banking
sector. This provisional status enables Revolut to expand its banking operations before a full-scale launch incrementally.
The license
approval follows Revolut’s efforts to address regulatory concerns, particularly
around its financial reporting practices. Recently, the firm received an
unqualified audit opinion from the UK accountancy advisory firm BDO, resolving
earlier issues related to revenue recognition and IT systems.
With this
UK license, Revolut is now positioned to expand its product offerings in its
largest market, where it serves around 9 million customers, alongside a global
customer base of over 45 million. This step aligns with its European banking
license, which it secured through Lithuanian authorities in 2021.
Two months
ago, the company revealed plans to launch its own stablecoin, aiming to expand
its offerings in crypto-assets. By entering the stablecoin market, Revolut
seeks to join established players like PayPal, Ripple, and BitGo. Sources
suggest the firm is positioning itself as a significant player in the crypto
space, focusing on compliance and security for crypto users. Revolut’s
stablecoin plans emerge amid a wave of new entrants into the market.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
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