Revolut plots ‘standalone cryptocurrency exchange’

Revolut said that the standalone crypto exchange is currently “invite only”


Veja/Shutterstock modified by Blockworks

Revolut is sending out invites to select customers for a cryptocurrency exchange.

The financial technology company said it’s developing a “standalone cryptocurrency exchange.”

CoinDesk first reported the news, noting that the exchange would be targeting “advanced traders.”

“We always develop new products and functionalities, desired by our customers or asked by the market. The standalone cryptocurrency exchange is one of the future developments, but more information will be released only when the product will be available in-app. Currently this product is accessible by invite only, we will be rolling this out and inviting more customers to take part,” a spokesperson for Revolut told Blockworks.

It’s not immediately clear who would be targeted as an advanced trader.

According to CoinDesk, a customer email also teased that users could find “deeper analytical tools and lower fees than the app.”

Revolut said in December that it planned to “temporarily pause” UK business crypto purchases following new rules from the UK’s Financial Conduct Authority.

An email seen by Blockworks at the time said that Revolut needed to “adjust our current Business crypto offering to make sure aloof the new requirements are met.”

The pause went into effect in early January.

The digital neobank, in August, announced that it would suspend crypto services to US customers in October.