UK digital bank Revolut is expanding its crypto exchange for experienced traders to 30 markets within Europe.

The standalone desktop trading platform, Revolut X, launched in the UK in May to compete with crypto-native exchanges.

“Crypto aligns with Revolut’s firm belief in a world of banking without borders,” Leonid Bashlykov, head of crypto exchange products at Revolut, said in a statement.

The neobank’s latest move comes as traditional financial institutions and fintech firms are increasingly expanding their crypto services.

Companies like payment giant PayPal, trading app Robinhood, fintech powerhouse Stripe, and investment behemoth BlackRock are among the organisations that have tapped into the sector.

Revolut’s crypto push

Revolut X’s European expansion is the latest chapter in the company’s push into digital assets. In 2017, Revolut launched crypto trading across Europe.

Crypto contributed between 30% and 35% to Revolut’s almost $40 million profit during the 2021 bull run, CEO Nikolay Storonsky told Bloomberg TV in 2022.

The fintech firm’s latest financial statements for the year 2023 does not state how much that proportion has changed.

This year, the bank has inked partnerships deals with crypto-native firms like MetaMask, launched Revolut X in the UK, expanded its crypto team by 60% to over 100 workers, and is reportedly working on launching its own stablecoin.

Revolut X

The challenger bank says Revolut X’s expansion is part of its plan to become “the go-to financial app for crypto pros.”

It did not clarify what it meant by “crypto pros” but only said Revolut X was aimed at “experienced traders” who will be able to trade over 200 tokens across the 30 European markets and the UK.

Customers will be able to withdraw and deposit into the exchange with no limits or fees, the bank said.

The new desktop-based trading platform will only be available for customers who already have a UK or EEA-based Revolut account.

Revolut did not return a request for comment.

Eric Johansson is DL News’ News Editor. Got a tip? Email at eric@dlnews.com.