The digital
financial institution Revolut is creating a brand new cryptocurrency buying and selling platform designed for
seasoned crypto merchants, in response to an e-mail despatched to prospects this week.
The brand new platform will supply extra superior buying and selling options like deeper market
analytics and decrease buying and selling charges than Revolut’s current crypto companies.
The truth is,
Revolut goals to supply a totally impartial crypto change along with
normal digital asset companies. The query is, nonetheless, whether or not it is going to be
in a position to compete with the most important names within the trade.
The e-mail,
which invited prospects to beta check the brand new change , mentioned it could have charges
between 0-0.09% and performance for restrict orders and market orders. Restrict
orders enable merchants to purchase or promote an asset at a particular worth, whereas market
orders allow shopping for or promoting at the very best obtainable worth.
“We’re
launching a brand new crypto change, constructed with superior merchants in thoughts. You may
discover deeper analytical instruments and decrease charges than the app,” Revolut’s
e-mail acknowledged.
A
spokesperson for Revolut confirmed to CoinDesk the corporate is engaged on the
new buying and selling platform , however mentioned additional particulars will not be launched till the
product is formally launched. The change is presently in closed beta
testing with invitations solely. Furthermore, the corporate has not given a timeline for
the brand new platform’s launch.
“The
standalone cryptocurrency change is likely one of the future developments, however extra
data might be launched solely when the product might be obtainable in-app,”
the spokesperson informed CoinDesk.
In December, Revolut disclosed its delayed monetary figures for 2022, reporting that its 2022 income exceeded $1.1 billion, marking a rise of 45% from the earlier 12 months. The corporate anticipates its income will attain $2 billion in 2023, together with a web revenue margin within the double digits.
#Revolut achieved income of £923M ($1,171B) within the 12 months 2022 up by 45% from 2021. Retail prospects up by %60 for a similar interval. Deposits, up by 71% to £12.6B, workers + 112% “capital and liquidity properly over our regulatory necessities”.#BDO, re 2021 accounts- “matter has…
— Max Karpis (@maxkarpis) December 22, 2023
Revolut’s Latest Crypto Updates
Revolut
made headlines this week when it introduced plans to listing a well-liked Solana meme
token known as BONK as a part of a promotional “be taught and earn” marketing campaign.
The corporate beforehand suspended crypto companies for UK enterprise prospects in
December over regulatory considerations, however the beta invite for the brand new change was
despatched to a UK buyer.
On the finish
of final 12 months, the corporate launched cryptocurrency companies in New Zealand,
providing prospects entry to over 100 buying and selling pairs. Nonetheless, it needed to
quickly droop its cryptocurrency companies within the UK as a consequence of new
laws that it has but to adjust to.
With 30
million whole prospects, Revolut’s transfer into extra superior crypto buying and selling
capabilities might have vital implications for mainstream adoption of
digital property. It marks an enlargement past fundamental crypto shopping for and promoting
into extra refined buying and selling instruments sometimes discovered at conventional crypto
exchanges.
Final week, Finance
Magnates reported that Revolut has launched a state-of-the-art rip-off
detection characteristic designed to guard prospects from card fraud. This new
characteristic provides further safety to Revolut’s present safety measures, focusing
on combating Licensed Push Cost frauds the place criminals trick people
into sending cash to pretend accounts.
The digital
financial institution Revolut is creating a brand new cryptocurrency buying and selling platform designed for
seasoned crypto merchants, in response to an e-mail despatched to prospects this week.
The brand new platform will supply extra superior buying and selling options like deeper market
analytics and decrease buying and selling charges than Revolut’s current crypto companies.
The truth is,
Revolut goals to supply a totally impartial crypto change along with
normal digital asset companies. The query is, nonetheless, whether or not it is going to be
in a position to compete with the most important names within the trade.
The e-mail,
which invited prospects to beta check the brand new change , mentioned it could have charges
between 0-0.09% and performance for restrict orders and market orders. Restrict
orders enable merchants to purchase or promote an asset at a particular worth, whereas market
orders allow shopping for or promoting at the very best obtainable worth.
“We’re
launching a brand new crypto change, constructed with superior merchants in thoughts. You may
discover deeper analytical instruments and decrease charges than the app,” Revolut’s
e-mail acknowledged.
A
spokesperson for Revolut confirmed to CoinDesk the corporate is engaged on the
new buying and selling platform , however mentioned additional particulars will not be launched till the
product is formally launched. The change is presently in closed beta
testing with invitations solely. Furthermore, the corporate has not given a timeline for
the brand new platform’s launch.
“The
standalone cryptocurrency change is likely one of the future developments, however extra
data might be launched solely when the product might be obtainable in-app,”
the spokesperson informed CoinDesk.
In December, Revolut disclosed its delayed monetary figures for 2022, reporting that its 2022 income exceeded $1.1 billion, marking a rise of 45% from the earlier 12 months. The corporate anticipates its income will attain $2 billion in 2023, together with a web revenue margin within the double digits.
#Revolut achieved income of £923M ($1,171B) within the 12 months 2022 up by 45% from 2021. Retail prospects up by %60 for a similar interval. Deposits, up by 71% to £12.6B, workers + 112% “capital and liquidity properly over our regulatory necessities”.#BDO, re 2021 accounts- “matter has…
— Max Karpis (@maxkarpis) December 22, 2023
Revolut’s Latest Crypto Updates
Revolut
made headlines this week when it introduced plans to listing a well-liked Solana meme
token known as BONK as a part of a promotional “be taught and earn” marketing campaign.
The corporate beforehand suspended crypto companies for UK enterprise prospects in
December over regulatory considerations, however the beta invite for the brand new change was
despatched to a UK buyer.
On the finish
of final 12 months, the corporate launched cryptocurrency companies in New Zealand,
providing prospects entry to over 100 buying and selling pairs. Nonetheless, it needed to
quickly droop its cryptocurrency companies within the UK as a consequence of new
laws that it has but to adjust to.
With 30
million whole prospects, Revolut’s transfer into extra superior crypto buying and selling
capabilities might have vital implications for mainstream adoption of
digital property. It marks an enlargement past fundamental crypto shopping for and promoting
into extra refined buying and selling instruments sometimes discovered at conventional crypto
exchanges.
Final week, Finance
Magnates reported that Revolut has launched a state-of-the-art rip-off
detection characteristic designed to guard prospects from card fraud. This new
characteristic provides further safety to Revolut’s present safety measures, focusing
on combating Licensed Push Cost frauds the place criminals trick people
into sending cash to pretend accounts.
