Revolut Set to Expand Crypto Arm by 20%: Report

British fintech platform Revolut is planning to expand its headcount of crypto department by 20% across Europe, the UK and US, Bloomberg has learned.

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According to the report, the firm wants to accelerate its presence on the cryptocurrency market over the next six months. Revolut’s crypto manager, Emil Urmanshin, said that the London-based firm is seeing crypto as a “long-term play and remain bullish on the crypto industry.” He added:

“Although there has been turmoil, interest in crypto assets has increased and we still have more customers trading crypto than during July 2021.”

So far, cryptocurrencies generate 5-10% of Revolut’s revenue globally. The news comes shortly after Revolut listed over 20 new tokens to its platform, including bitcoin (EXANTE: Bitcoin), ether (ETH) and apecoin (APE).

Revolut Seeks Tech Lead for Crypto Exchange

In May, reports said that Revolut might roll out its own token as part of the development of a customer loyalty program. However, no updates have been made on this direction at the time of writing.

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