Revolut to increase the size of its crypto division by 20%

The company advertised for hiring for 13 digital asset-focused positions

05.08.2022 - 11:50

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What’s new? London-based fintech company Revolut plans to increase the number of employees of its crypto division by 20% in Europe, the UK, and the US over the next six months. The company has placed recruitment ads for 13 digital asset-focused positions, Bloomberg reports. Revolut is looking for employees in compliance and financial crime prevention, as well as software engineers and lawyers with experience working in the crypto industry.

Bloomberg’s material

What else does the outlet report? Revolut has already hired 43 employees in its crypto division this year, tripling its total team size since July 2021. The company has more than 230 open positions across all its divisions.

Emil Urmanshin, Revolut’s crypto general manager, said that the company sees digital assets as a “long-term play” and remains optimistic about the crypto industry. He added that this area currently accounts for 5% to 10% of Revolut’s revenue worldwide.

According to Revolut, the number of UK customers buying cryptocurrency increased by 290% between July 2020 and July 2021, and by another 30% between July 2021 and July 2022. The number of transactions during each of these periods increased by 800% and 50%, respectively.

Revolut was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. The company offers currency exchange accounts, debit, and virtual cards, commission-free trading in stocks, cryptocurrencies, commodities, and P2P payments. In a July 2021 funding round, the company’s valuation rose to $33 billion, making it the UK’s most expensive fintech startup. On August 3, Revolut added 22 new tokens to its platform, bringing the total number of cryptocurrencies available to more than 80.

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