Revolut is looking to expand  its cryptocurrency exchange, Revolut X, to 30 new countries across Europe. This expansion is coming after a strong start of the platform in the United Kingdom earlier in the year.

Tens of thousands of traders in the UK have already started using Revolut X, and Revolut shared that the platform offers more than 200 digital coins for trading. The fees are very low—limit orders don’t cost anything, and market orders cost only 0.09%.

Revolut Aims To Stand Out With Unique Blend Of Banking And Crypto Services

Leonid Bashlykov, Revolut’s head of crypto exchange products, noted that the feedback from users has been very good. He explained that many traders are already enjoying Revolut X’s low fees, wide variety of digital coins, and the smooth connection to their Revolut accounts.

Bashlykov said that Revolut’s goal with Revolut X is to be a big choice in Europe for crypto trading. He also shared that Revolut is offering something unique by blending traditional banking with exciting crypto services, making it stand out from regular banks and regular crypto platforms.

Revolut shared that it is cautious about following the rules, saying that it got the required permissions to operate safely in all its areas. In July 2024, the UK’s financial authority, the Prudential Regulation Authority (PRA), granted Revolut a UK banking license.

This license comes with some limitations, common for new companies in the UK banking world. With this approval, Revolut can slowly grow its banking services.

The company added that getting the UK license took some effort. Revolut had to show improvements in its financial reporting to fix some issues that were there before.

Revolut Wants To Strengthen Its Position In Crypto With New Stablecoin Plans

Recently, Revolut said it received a positive audit report from BDO, a top accountancy firm in the UK. This report solved past problems with reporting revenue and IT systems, according to Revolut.

With the UK license now, Revolut shared that it’s ready to offer more products to its large customer base in the UK, where it already has about 9 million customers.

It also serves more than 45 million customers around the world. Revolut explained that this UK license is another step after it received its European license from Lithuania back in 2021.

Two months ago, Revolut also talked about its plans to launch a new stablecoin. A stablecoin is a type of digital currency that holds a steady value. With this move, Revolut shared that it wants to join other big names like PayPal and Ripple in the stablecoin market.

Sources have suggested that Revolut aims to be a strong, secure option in the crypto space, focusing on making sure it is safe for users.