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Revolut is entering the arena with a fresh trading application, intending to confront the major players in the digital currency sphere.
* Revolut has introduced a specialized app for digital currency trading.
* The emerging bank views this as an explicit challenge to the “leading exchanges.”
* Rumors imply the new application may soon be accessible in the United States.
Revolut Bank is raising the stakes in its conflict with entrenched digital currency enterprises, conveying its Revolut X exchange application to retail traders, directly on their devices.
The UK-based challenger bank declared that the introduction for European and UK clients is “the subsequent phase in contesting other prominent exchanges.”
A representative suggested to *DL News* that a US extension is on the visible horizon.
“We lack precise schedules to impart presently, but it’s certainly our objective,” the representative communicated to *DL News*.
This application is additional confirmation of how the digital currency surge is attracting fintech firms into the marketplace.
For several years, enterprises like Revolut, Robinhood, eToro, Stripe, and PayPal have been presenting products and services to rival the likes of Coinbase and Binance.
## What constitutes Revolut X?
Revolut initiated the Revolut X application in November, but it existed as a desktop platform crafted for skilled digital currency traders in the UK and Europe.
Initially, the new application will solely be obtainable in the equivalent regions.
A representative remarked that a crucial alteration is that the new application will “serve traders of all proficiencies, from novices to experts.”
Revolut has consistently portrayed itself as a comprehensive hub for monetary services, but it expresses that introducing a distinct application “brings Revolut X nearer to its principal rivals.” South Korea Bans Unregistered Crypto Exchanges From Google Play
“By formulating a separate application, it signifies that our more sophisticated attributes, which might be daunting for less seasoned traders, won’t encumber users,” the representative articulated.
According to insiders, Revolut intends to merge its banking application with Revolut X.
## The heat is on
Revolut is under growing strain as Donald Trump’s commitment to loosen cryptocurrency rules has ignited rivalry between industry bodies and established financial institutions to roll out digital asset trading platforms.
Robinhood, a key rival of Revolut, has lately tightened its hold on the European arena, providing offerings akin to Revolut. Similar to Revolut and PayPal, Robinhood stands as one of the fintech enterprises enlisting personnel for its cryptocurrency division in 2024.
GlobalData analyst Nicklas Nilsson communicated to DL News in December that cryptocurrencies present a potent avenue for enticing youthful investors to amass capital, implying Robinhood won’t stand as the singular entity pursuing this path.
Nilsson remarked: “We anticipate fintech enterprises introducing progressively refined cryptocurrency solutions.”
