Revolut, a digital fintech application, has initiated the launch of its cryptocurrency exchange named Revolut X, catering specifically to experienced traders in the United Kingdom. This move underscores Revolut's intensified focus on cryptocurrency ventures, marking a strategic expansion within the digital asset market.

In a phased rollout strategy, Revolut has begun onboarding a select group of professional traders onto Revolut X, adopting a cautious approach typical of traditional service introductions in the crypto sector. Initial reports suggest that Revolut X enables users to seamlessly convert fiat currency to cryptocurrencies between Revolut and Revolut X, with assets safeguarded by purpose-built security measures. Notably, the exchange is reported to levy zero fees for trade makers and a nominal 0.09% fee for trade takers.

While Revolut has yet to make an official public announcement regarding Revolut X, notifications have been circulated among a limited number of UK users, signaling the commencement of the exchange's operations. Crypto.news has reached out to Revolut for comment, and further updates will be provided upon receipt of their response.

Revolut's foray into the cryptocurrency exchange realm has been in the works for some time, with early reports surfacing in 2021 when the London-based company expressed intentions to recruit talent to lead the development of the "Revolut Crypto exchange." This latest endeavor underscores Revolut's commitment to diversifying its offerings and capitalizing on the growing demand for cryptocurrency services.

With a valuation of $25.7 billion as of April, Revolut has established itself as a key player in the fintech industry, boasting a customer base exceeding 30 million worldwide as of June 2023. Over the years, Revolut has expanded its cryptocurrency offerings, providing exposure to more than 50 tokens, further solidifying its position as a prominent player in the digital finance space.