Revolut's HQ, London

Revolut, a British Fintech with some 30 million customers, has lowered crypto trading fees by 0.5% according to an email sent to their customers.

"For our Standard and Plus customers, the percentage based crypto trading fee is being reduced from 1.99% to 1.49%," the company said.

That's still a lot higher than Coinbase for example which charges less than 0.5%, making actual trading on Revolut expensive.

But the company appeals to a wider segment as it also offers stocks, including Coinbase's COIN, while itself is not yet publicly traded.

It was valued at $30 billion at one point, while Coinbase is at $18.3 billion, with Revolut thought to hold about half a billion worth of crypto.

As they remain a private company, the sums are not officially revealed and Revolut itself has not revealed any crypto addresses, however estimates can be derived based on their account filings with the Companies House.

Crypto trading at one point accounted for more than 30% of its revenue at the peak in 2021, but fell to just 5% last year according to its CEO Nikolay Storonsky.

This reduction in fees might be trying to spur some demand while the Fintech tries to get a banking license in UK following a more than two years long process.

It still has not secured such license, while it has received on in Lithuania for the European Union. If it does get a license in UK, it would become the first British bank to offer crypto.

It also offers crypto staking and you can tie your physical or virtual debit card to crypto, allowing you to pay in bitcoin or eth to all merchants.

However that's at a 1.5% fee for each such payment, but you receive cashback in crypto, making it better than outright selling.