Vanessa
London-based fintech firm Revolut has expanded its standalone crypto exchange, Revolut X, to 30 new countries in the European Economic Area (EEA). The company announced the expansion on November 13, positioning Revolut X as a “competitive platform” for crypto traders within the continent.
Launched in May, Revolut X represents an “important milestone” for the company’s crypto ambitions, according to Leonid Bashlykov, head of crypto exchange product. The expansion follows its efforts to prevent $13.5 million in potentially fraudulent crypto transfers from June to September, with additional checks in place for anti-money laundering compliance. Revolut’s approach—combining traditional banking services with crypto offerings—sets it apart from both conventional banks and crypto-only exchanges.
The move aligns with the company’s recent UK banking license granted by the Prudential Regulation Authority (PRA), allowing for incremental growth in its services. This license, which is part of its broader regulatory strategy, came after it secured a European banking license in Lithuania in 2021. With this approval, Revolut strengthens its position in its largest market, the UK, where it serves around 10 million of its 45 million global users.
Revolut’s interest in building a crypto exchange began in 2021, when the firm started recruiting to design and develop a comprehensive trading platform for digital assets across Europe. It has also revealed plans to launch its own stablecoin soon.
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Vanessa has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
