Revolut Gears Up to Launch Cutting-Edge Crypto Exchange

Revolut is setting up a crypto trading platform, a recent Coindesk report from Feb. 16 reveals. A customer email from the UK hints at this new service, designed for expert traders, offering "advanced analytical tools and reduced fees" compared to its existing app. The trading costs will range from 0% to 0.09%, with no charge for limit orders, although it's unclear if these fees are for the new or existing services. Currently, Revolut applies a fixed fee of 0.99% to 1.99% for crypto transactions, based on the user's plan.

This move comes after Revolut scaled back its crypto offerings in the UK and the US due to regulatory changes. In December 2023, it limited crypto access for UK businesses and paused such services in the US in August 2023. Revolut might add Solana's BONK memecoin to its list, driven by a potential collaboration featuring a $1.2 million "learn and earn" initiative. Although not named directly, a BONK community proposal matches Revolut's profile, pointing to a likely partnership. Despite a recent spike in its value, BONK has dropped 62% from its December high. It faces criticism for its centralized distribution and lack of foundational documentation but has been picked up by major exchanges like Binance and Coinbase.