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Revolut, a London-based neobank, is expanding its Revolut X crypto exchange to all 30 European Economic Area (EEA) countries.
The EEA includes all 27 countries in the European Union, as well as Iceland, Liechtenstein, and Norway.
Revolut has been an early adopter of cryptocurrency, having offered crypto trading to its customers since 2017. Although the bank has offered crypto trading for years, but the bank launched Revolut X as a standalone crypto trading platform, in the United Kingdom, earlier this year.
The company said in a press release that the expansion means, "experienced European-based crypto traders in all 30 EEA countries will now also be able to buy and sell more than 200 cryptocurrencies through Revolut’s desktop-based platform."
“The feedback from experienced traders has been very positive, with many already taking advantage of our near-zero fees, wide range of available assets, and seamless integration with their Revolut accounts," said Leonid Bashiykov, the head of product for Revolut's crypto exchange, in a press release. “With the expansion of Revolut X, we’re aiming to make a real impact in the crypto trading space and offer a strong alternative to some of the more established platforms."
The Revolut X platform will be limited to customers who have EEA- or UK-based accounts with the bank.
The expansion news comes a year after the bank had to suspend its crypto offerings for customers in the U.S. At the time, a bank spokesperson told Decrypt that "Revolut is actively pursuing alternative means of providing access to crypto products and we hope to offer crypto in the US again in the future." But there's been no update on what they might look like.
“As a result of the evolving regulatory environment and the uncertainties around the crypto market in the US, we’ve taken the difficult decision, together with our US banking partner, to suspend access to cryptocurrencies through Revolut in the U.S.,” the Revolut spokesperson said last year. “This decision has not been taken lightly, and we understand the disappointment this may cause.”