Crypto Updates

Digital Bank is Taking on Coinbase With a New Crypto Exchange

From left: Vlad Yatsenko and Nik Storonsky from Revolut

The digital
bank Revolut is developing a new cryptocurrency trading platform designed for
seasoned crypto traders, according to an e-mail sent to customers this week.
The new platform will offer more advanced trading features like deeper market
analytics and lower trading fees than Revolut’s existing crypto services.

In fact,
Revolut aims to offer a fully independent crypto exchange in addition to
standard digital asset services. The question is, however, whether it will be
able to compete with the biggest names in the industry.

The e-mail,
which invited customers to beta test the new exchange , said it would have fees
between 0-0.09% and functionality for limit orders and market orders. Limit
orders allow traders to buy or sell an asset at a specific price, while market
orders enable buying or selling at the best available price.

“We’re
launching a new crypto exchange, built with advanced traders in mind. You’ll
find deeper analytical tools and lower fees than the app,” Revolut’s
e-mail stated.

A
spokesperson for Revolut confirmed to CoinDesk the company is working on the
new trading platform

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