Revolut is expanding its crypto exchange, Revolut X, to 30 additional countries across the European Economic Area, aiming to strengthen its position in the crypto market.
Revolut Expands Crypto Exchange to New Areas
Revolut, a London-based fintech company, is aiming to broaden its presence in the crypto sector by expanding its standalone crypto exchange, Revolut X, to dozens of new countries within the European Economic Area.
Revolut announced in a press release distributed to crypto.news on November 13, that the exchange will now be accessible in 30 additional countries throughout the European Economic Area (EEA).
This expansion is intended to establish Revolut X as a “competitive platform” for cryptocurrency traders. Leonid Bashlykov, Revolut’s director of product – crypto exchange, characterized the expansion as a “important milestone” for the exchange, which was established in May.
“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.”
Leonid Bashlykov
Between June and September, Revolut prevented $13.5 million in potentially fraudulent crypto transfers, with nearly 92% of crypto transactions still processed without user intervention. This information was disclosed in early October.
Revolut clarified that for the remaining 8%, “additional checks have been required to ensure compliance with fraud prevention, anti-money laundering regulations, and other safeguards.”
Revolut has been contemplating the establishment of its own cryptocurrency exchange since 2021, when the London-based company began seeking a leader to “architect and build the Revolut Crypto exchange.”
The company has been offering access to over 50 tokens and has been providing crypto services to 30 million consumers globally as of April, when its valuation was $25.7 billion.
