Digital banking app Revolut is developing a standalone cryptocurrency exchange targeted at sophisticated traders, according to an email seen by CoinDesk.
The new exchange platform offers advanced analytics, lower trading fees, and custom ordering capabilities beyond Revolut's existing crypto services.
- The exchange advertises commissions of 0-0.9% and takes limit order trades at the invitation of customers.
- Following Revolut's suspension of business cryptocurrencies in the UK due to regulations.
- This initiative aims to expand cryptocurrency offerings for a subset of active users.
The email indicated that users can expect transaction fees of between 0 and 0.09% when buying and selling cryptocurrencies on Revolut's exchanges. Traders will also have access to limit orders, allowing them to buy at a pre-set target price.
“We're launching a new crypto exchange built with advanced traders in mind.” “You'll find more in-depth analytical tools and lower fees than in the app.” Your email has been read.
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Revolut representatives confirmed to Blockworks that the company is developing another replacement product, but declined to share additional details and said it was still in early testing stages and that it was first selected. He said he plans to invite users.
Revolut announcement comes after UK suspension
The launch comes shortly after Revolut suspended cryptocurrency transactions for UK business accounts in December amid new UK regulations governing crypto asset promotion.
Although the consumer crypto service continues, Revolut has likely adjusted its exchange approach to comply with the latest rules.
According to industry sources cited by CoinDesk, the target audience is expanding beyond everyday retail traders to sophisticated investors.
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Revolut already allows its 30 million user base to buy and sell cryptocurrencies, but the exchange will double down on more active crypto participants.
Features such as lower commissions and limit orders are attractive to frequent traders who require a high degree of control compared to casual investors.
