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Revolut Launches Commission-Free Crypto Trading for US Investors

Among other free services announced by Revolut are out-of-network ATM withdrawals of up to $1,200 and 10 remittance payments.

Updated May 9, 2023, 3:27 a.m. Published Oct 20, 2021, 12:17 a.m.

Revolut, a fintech company with a $33 billion valuation that offers cryptocurrency buying as part of its services, is allowing U.S. customers to trade as much as $200,000 a month commission-free starting today.

Among other free services announced by Revolut are out-of-network ATM withdrawals of up to $1,200 and 10 remittance payments. Users will also be able to send up to 10 international transfers per month fee-free to anyone with a bank account in 30 countries, including the U.K., France, the Philippines, Japan and Australia.

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“By breaking down fees, we’re empowering Revolut’s U.S. customers to achieve financial freedom and drive their own financial journey, whether that be opening their first banking account, trading in new financial markets or sending money to loved ones overseas,” said Ron Oliveira, Revolut’s U.S. CEO.

The London-based fintech firm launched in the U.S. in March 2020, and most recently it emerged the firm is looking to launch its own cryptographic token.

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Read more: Revolut to Launch Crypto Token: Sources

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Banking giant Intesa Sanapolo discloses $100 million bitcoin ETF holdings, along with Strategy hedge

Intesa Sanpaolo headquarters in Turin (Riccardo Tuninato/Unsplash)

The bank also holds a large put option position on Strategy, potentially capitalizing on the company trading above the value of its BTC holdings.

What to know:

  • Intesa Sanpaolo disclosed $96 million in bitcoin ETF holdings, including ARK 21Shares Bitcoin ETF and iShares Bitcoin Trust.
  • The bank also holds a large put option position on Strategy, potentially capitalizing on the company trading above the value of its BTC holdings.
  • The filing used the Share-Defined designation, which suggests the investment decisions were made jointly by Intesa Sanpaolo and executed by affiliates.