Revolut has announced the closure of its commodities trading service in selected European markets, giving affected users a limited period to exit positions. Customers holding precious metals will have up to 60 days to liquidate their assets.
Overview Of The Strategic Move
The change applies to a relatively small segment of Revolut’s customer base. Investments in gold, silver, platinum, and palladium will need to be sold within the specified timeframe. According to the company, the decision does not affect other core products or services.
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Customer Guidance And Refund Policy
Affected users will receive direct communication outlining the process. Revolut has also confirmed that commissions linked to existing transactions will be refunded, reducing the cost of closing positions during the transition period.
Financial Strategy And Market Trends
Company disclosures show that Revolut held approximately £739 million (around $997 million) in precious metals, compared with £199 million a year earlier. These holdings were used as part of a broader strategy to hedge against market volatility. The move comes amid fluctuating commodity prices, particularly in gold, which has recently reached record levels before showing renewed volatility.
Implications For European Expansion
This development coincides with Revolut’s broader ambitions to extend its footprint in the European market. The firm is actively applying for a banking licence in France, supplementing its existing European Union operations that benefit from licence “passporting” via Lithuania. Investors and industry watchers will be keenly observing how these regulatory and strategic adjustments impact the company’s long-term growth trajectory.
