The digital fintech app Revolut has initiated the onboarding process for experienced traders on its cryptocurrency exchange known as Revolut X.

The British fintech firm Revolut has begun a gradual rollout of its crypto exchange, Revolut X, as part of its increased focus on cryptocurrency initiatives.

Through notifications shared among a limited group of users in the UK, Revolut has exclusively granted access to professional traders, suggesting a more cautious approach compared to traditional methods of service launch in the crypto market. Initial reports indicate that Revolut X enables users to convert between fiat-to-crypto within Revolut and Revolut X, with assets stored on secure defenses specifically designed for this purpose. The exchange reportedly charges no fees to the trade maker and a 0.09% fee to the trade taker.

Revolut has not made a public announcement regarding this recent development. Crypto.news has reached out for comment and will update the article upon receiving a response.

There have been previous reports about Revolut's intention to create its crypto exchange since 2021 when the London-based company began searching for a leader to oversee the team responsible for building the Revolut Crypto exchange.

Despite being valued at $25.7 billion as of April, the fintech company Revolut has been offering crypto services for many years. By June 2023, Revolut had accumulated over 30 million customers globally and provides exposure to more than 50 tokens.