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Revolut Boosts Its Investments Amid Crypto Crisis

Fintech company Revolut continues its cryptocurrency service operations after it was recently approved to operate in Singapore. Most recently, on Thursday, the company said it plans to further expand its crypto services by increasing its headcount.

According to a Bloomberg report, the company anticipates a 20% increase in the number of crypto employees. Recruitments can strengthen Revolut’s teams in Europe, the UK, and the US over the next six months.

As the crypto ecosystem continues to witness a bearish environment, this is a welcome move, especially for the crypto community. Many companies have announced layoffs recently, while others have halted their new hiring plans.

To add to its crypto-related 43-person team, Revolut plans to take on roles in the advertising, compliance, and financial crime prevention and legal teams. The hiring is likely to help Revolut further expand its cryptocurrency offerings. He added that the crypto business currently accounts for around 5 to 10 percent of Revolut’s global revenue.

“Despite the turmoil, interest in crypto assets has increased. We still have more customers trading crypto than July 2021.”

The company has been expanding its cryptocurrency offerings lately. The total number of virtual currencies is currently more than 80. According to the report, Revolut added as many as 22 new tokens to its platform on Wednesday. In the last 12 months, the Revolut crypto-related customer base has expanded by over 290%.