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Revolut to expand its cryptocurrency team

Fintech company Revolut plans to increase by 20% the number of employees involved in the cryptocurrency direction in the EU, UK and US within six months. Bloomberg writes about it.

Revolut posted 13 jobs related to digital assets, including financial crime prevention and development.

This year, the company has already hired 43 specialized specialists.

“We view cryptocurrencies as a long-term game and remain optimistic about the industry,” Revolut said.

The company added that at the moment this area accounts for 5% to 10% of Revolut’s revenue.

From July 2021 to July 2022, the number of its UK customers buying cryptocurrencies increased by 30%, according to the firm. The number of transactions during this period grew by more than 50%.

Revolut is expanding staff at a time when many companies are laying off employees amid a downturn in the crypto market. The wave of cuts was reported by Coinbase, Crypto.com, BlockFi, BitMEX, Bitpanda, OpenSea, Blockchain.com, Gemini, Robinhood and a number of other organizations.

Binance and KuCoin are pursuing a different strategy – they intend to increase staff.

Recall that in May, the founder of Revolut, Nikolay Storonsky, spoke about the company’s plans to launch its own token.

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About author

Oxford graduate with honors. He worked in large financial projects for well-known Wall Street corporations. After he earned his first capital and a reputation as a successful trader, he opened his own company. At the moment, the growth of the company's capital is 20% per year.
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