LONDON, April 24 (Reuters) - Revolut said it would wind down its commodities product in some European countries on Friday, giving customers a two-month deadline to sell their holdings. The British
Revolut Winds Down Commodities Product in Select European Countries
Revolut Announces Changes to Commodities Service
Service Wind Down and Customer Impact
LONDON, April 24 (Reuters) - Revolut said it would wind down its commodities product in some European countries on Friday, giving customers a two-month deadline to sell their holdings.
The British finance app's commodities business allows customers to hold investments in gold, silver, platinum and palladium.
Official Statement and Affected Markets
"We have made the decision to wind down our Commodities service in some European markets. This change relates only to a small group of our customers," a Revolut spokesperson said in a statement. Revolut declined to give a reason for the move or say which countries the service would no longer be available in.
Customer Guidance and Refund Policy
Customers in the affected countries, who will be contacted by Revolut, have 60 days to sell their existing holdings and will be refunded the commission fee, the spokesperson said, adding that all other products and services remain unchanged.
Revolut's Precious Metals Holdings and European Expansion
London-based Revolut said in its annual report it had around 739 million pounds ($997 million) invested in precious metals in 2025 to hedge its exposure to price volatility in its customers' holdings, up from 199 million pounds the year before. Revolut did not break this down country-by-country.
As Revolut seeks to expand in Europe, it has applied for a banking licence in France. It already offers banking services in the European Union by "passporting" its licence from Lithuania.
Market Context: Gold Prices and Volatility
Gold's price hit record highs in January, having surged in recent years due to demand from central banks and institutional investors. Speculative retail demand rose in late 2025.
However, gold's momentum has faded and volatility intensified since the U.S. and Israel launched strikes on Iran on February 28, prompting a rush by investors to raise liquidity and a resurgence of inflation fears.
Additional Information
($1 = 0.7415 pounds)
(Reporting by Elizabeth Howcroft in Paris, Polina Devitt in London and Yamini Kalia in Bengaluru; Editing by Shilpi Majumdar and Alexander Smith)
