Revolut to expand its crypto team by 20%

The fintech company Revolut plans to increase by 20% the number of employees working on the crypto side in the EU, the UK and the US within six months. Bloomberg reports.

Revolut has posted 13 vacancies related to digital assets, including in anti-financial-crime and development.

This year the company has already hired 43 specialists.

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

The company added that at present this direction accounts for between 5% and 10% of Revolut’s revenue.

According to the firm, from July 2021 to July 2022 the number of its UK customers buying cryptocurrencies rose by 30%. The number of transactions in this period grew by more than 50%.

Revolut is expanding its workforce while many companies are laying off staff amid a downturn in the crypto market. Reports of a wave of layoffs were reported by Coinbase, Crypto.com, BlockFi, BitMEX, Bitpanda, OpenSea, Blockchain.com, Gemini, Robinhood and a number of other organisations.

Binance and KuCoin are pursuing a different strategy — they intend to expand their staff.

In May, Revolut founder Nikolay Storonsky outlined plans to launch its own token.

Follow ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, rates and analysis.