Revolut Opens in-House Crypto Exchange to 30 European Countries

After launching in the United Kingdom, Revolut is bringing its cryptocurrency exchange to Europe.

Revolut X exchange, designed for professional crypto traders, is now available in 30 new European Economic Area (EEA) countries, according to a Wednesday (Nov. 13) press release emailed to PYMNTS.

“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, head of product at Revolut, said in the release. “Safety and accessibility are at the heart of our standalone exchange because we recognize that crypto traders value these features above all else.”

Launched in May, the exchange will let European crypto traders buy and sell more than 200 cryptocurrencies using Revolut’s desktop-based platforms, per the release. Revolut X’s expansion is part of the company’s ambition to become the “go-to trading platform” for crypto beginners and experienced traders.

Revolut also offers an in-app education tool, Crypto Learn, which it encourages customers to engage with when buying crypto, especially for the first time. Most funds are kept in cold storage, with customer support offered 24/7 through encrypted chat, the release said.

The company’s “risk monitoring tools work constantly to prevent account takeovers, while trusted custodians are selected after a carefully conducted due diligence process,” according to the release.

The European launch comes amid a changing crypto landscape, with dozens of industry-backed candidates winning elected office in the United States last week.

Bitcoin reached record highs since then, with the crypto sector viewing President-elect Donald Trump’s win as a victory for them as well, anticipating that the new administration and its supporters in Congress will be more welcoming to their industry.

“With crypto-backed policymakers now pushing a pro-business, pro-innovation agenda, forward-thinking financial institutions (FIs), already facing a competitive ecosystem of FinTech and digital-native challengers, are reassessing the idea of blockchain as an opportunity to innovate and remain competitive,” PYMNTS wrote this week.