Revolut Bank is about to launch a cryptocurrency exchange for experienced traders

Although Revolut has been allowing investments in cryptocurrencies for several years, the bank wants to go further by launching its own exchange aimed at “sophisticated traders.” Let's take a look at this information...

Revolut will launch a beta version of its cryptocurrency trading platform for experienced customers

You could be there Centralized trading platform With a 0.09% commission that is already in beta testing for some carefully selected clients? That's what the advisory email sent to some digital bank Revolut customers said. The content of which was shared by the CoinDesk platform, specializing in cryptocurrency news.

“We are launching a new cryptocurrency exchange designed for experienced traders. (…) You will find deeper analysis tools and lower fees in the app.” ^{Excerpt from Revolut email}

A few years ago, digital bank Revolut became an active supporter of the cryptocurrency industry and its operations. Since December 2017, the bank has been offering offers to buy and sell cryptocurrencies directly in its banking app.

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Although Revolut Bank has been open to cryptocurrencies for several years. However, he wants to go further and launch his own exchange dedicated to “experienced (expert) traders.”

At the moment, this platform is still in beta testing and will offer tools similar to those we can find from competitors, such as limit orders. As for the fees mentioned, they are expected to range from 0 to 0.09%.

So, Revolut is talking about an exchange aimed at “sophisticated traders” that offers execution of market orders (known as a “taker”) and limit orders (known as a “maker”). An interesting point is that limit orders will not charge a fee, and limit orders will cost a maximum of 0.09%.

This is a strong point because... Binance, the most competitive and largest platform at the moment, charges 0.10% per order. (With a good discount if you have BNB tokens). FYI, Revolut currently has over 30 million users, including some who may be experienced traders and have access to the new exchange.

Finally, Revolut Bank's desire to expand its services is not new. And for good reason, this idea has been in the works since at least November 2021, when a job offer was posted to hire someone to lead the team responsible for “designing and building a cryptocurrency exchange.”