• Mon. May 20th, 2024

Largest UK Fintech Introduces Trading Platform with XRP Support

Phillip Bryant

ByPhillip Bryant

May 8, 2024
Largest UK Fintech Introduces Trading Platform with XRP Support

XRP, along with a variety of other digital assets, can now be traded on a new cryptocurrency trading platform that was recently launched by Revolut, the most successful financial technology company in the United Kingdom.

The introduction of Revolut X, a specialized cryptocurrency trading service that is designed specifically for professional traders in the cryptocurrency market, has demonstrated that Revolut has established a strong presence in the world of cryptocurrency exchange. On May 7th, the company made this announcement by posting a press release on its official website under the heading “Press Release.”

As stated in the announcement, Revolut intends to compete with leading exchanges by providing a trading platform that is of a professional standard and enables smooth transitions into and out of cryptocurrency positions. Additionally, the company intends to offer competitive fees.

Revolut X offers a zero maker fee and a 0.09% taker fee for trades of any size. The company highlights that existing Revolut users can take advantage of the integrated trading experience within the Revolut ecosystem without incurring any fees, limitations, or obstacles.

Start Trading
Start Trading

Interestingly, traders on Revolut X must possess a Revolut retail account in order to gain entry to the new exchange. Users can take advantage of live trading and advanced data analysis. Specifically, Revolut X integrated TradingView charts to provide a range of market tracking tools and technical indicators.

There Is Support for XRP on Revolut X

After the release, experienced cryptocurrency traders will now be able to buy and sell more than 100 different cryptocurrencies, including XRP, using a desktop platform for the first time. It’s important to mention that the brand-new independent exchange platform is specifically designed to work best on larger screens like laptops. Basically, Revolut X is not suitable for smaller devices such as mobile phones.

In addition, Revolut has emphasized that the majority of users’ assets are kept safe in cold storage. The inclusion of XRP among the 100 cryptocurrencies supported by Revolut in the initial launch phase has sparked a response from the XRP community.

A well-known member of the community, WrathofKahneman, proposed that Revolut X’s elimination of maker fees and low 0.09% taker fee could establish it as a strong competitor to Uphold, a crypto platform based in the United States that is recognized for its support of XRP.

Revolut has introduced Revolut X, a cryptocurrency trading application in the UK that includes #XRP as one of its offerings. The promotional material is awkward in its assertion that the app is suitable for both novices and professionals. With no payment required and a minimal transaction fee of just 0.09%, this platform has the potential to become a formidable rival to Uphold!

— WrathofKahneman

Several other digital assets, such as Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB), and Dogecoin (DOGE), are also supported.

Revolut was initially established as a money transfer service in the United Kingdom back in 2015. Over time, it has grown to become a leading fintech company in the U.K., attracting a worldwide user base of more than 40 million.

In 2017, Revolut ventured into the world of cryptocurrencies, allowing users to buy, possess, and trade digital currencies. Now, a brand new trading platform has been introduced. In May 2018, the company expanded its list of tradeable assets by including XRP in addition to Bitcoin Cash (BCH).

The company sees Revolut X as a significant step in becoming the top financial app for both new and experienced cryptocurrency users.

Phillip Bryant

Phillip Bryant

Phillip Bryant, an esteemed writer in the financial field, imparts his extensive knowledge of currency markets to the readers of Main Crypto News. With a wealth of experience in international finance and a keen sense of market trends, Bryant offers timely and perceptive analysis of foreign exchange, keeping readers well-informed.

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