A recent hiring post may have just unveiled Revolut’s
next big move in the crypto space: a full-scale expansion into derivatives
trading. The fintech firm is preparing to build this business from scratch,
even as it navigates regulatory uncertainty in its home market.
From Trading App to Derivatives Platform
Revolut’s recent job listing for a “General Manager
(Crypto Derivatives)” hints at an ambitious project. The role would oversee the
development of a new derivatives offering, from designing the trading
infrastructure to securing regulatory approvals and crafting a commercial
strategy.
The company aims to create a “trusted, scalable, and profitable” platform, potentially tapping into its 50 million global users. The job posting spans London, Barcelona, and Dubai, suggesting that Revolut is casting a wide net for talent and regulatory clarity.
While still in early recruitment stages, the company
confirmed the effort is part of its broader strategy to grow crypto services,
especially for institutional clients.
Revolut’s derivatives plan may face a critical
roadblock at home. The UK’s Financial Conduct Authority (FCA) has banned crypto
derivatives for retail investors since 2021. This limits Revolut’s options
unless it restricts access to professional clients.
The listing’s preference for candidates familiar with
European Union financial rules and Revolut’s active hiring in Dubai suggests
those regions may be the initial launch pads.
Regulators May Complicate UK Launch
This move comes at a time when Revolut’s crypto unit
plays an increasingly central role in its financial performance. In May 2024,
the company launched Revolut X, a desktop trading platform for seasoned crypto
users.
With support for over 100 tokens and low fees, the
exchange has already established itself as a key piece of Revolut’s crypto
expansion. A mobile version is expected in 2025.
These developments have contributed to strong
financial results. Revolut more than doubled its pre-tax profit in 2024 to £1
billion ($1.3 billion), driven by a surge in trading activity and customer
growth.
The company also committed to a €1 billion investment
in France and applied for a banking license there, reinforcing its European
ambitions.
A recent hiring post may have just unveiled Revolut’s
next big move in the crypto space: a full-scale expansion into derivatives
trading. The fintech firm is preparing to build this business from scratch,
even as it navigates regulatory uncertainty in its home market.
From Trading App to Derivatives Platform
Revolut’s recent job listing for a “General Manager
(Crypto Derivatives)” hints at an ambitious project. The role would oversee the
development of a new derivatives offering, from designing the trading
infrastructure to securing regulatory approvals and crafting a commercial
strategy.
The company aims to create a “trusted, scalable, and profitable” platform, potentially tapping into its 50 million global users. The job posting spans London, Barcelona, and Dubai, suggesting that Revolut is casting a wide net for talent and regulatory clarity.
While still in early recruitment stages, the company
confirmed the effort is part of its broader strategy to grow crypto services,
especially for institutional clients.
Revolut’s derivatives plan may face a critical
roadblock at home. The UK’s Financial Conduct Authority (FCA) has banned crypto
derivatives for retail investors since 2021. This limits Revolut’s options
unless it restricts access to professional clients.
The listing’s preference for candidates familiar with
European Union financial rules and Revolut’s active hiring in Dubai suggests
those regions may be the initial launch pads.
Regulators May Complicate UK Launch
This move comes at a time when Revolut’s crypto unit
plays an increasingly central role in its financial performance. In May 2024,
the company launched Revolut X, a desktop trading platform for seasoned crypto
users.
With support for over 100 tokens and low fees, the
exchange has already established itself as a key piece of Revolut’s crypto
expansion. A mobile version is expected in 2025.
These developments have contributed to strong
financial results. Revolut more than doubled its pre-tax profit in 2024 to £1
billion ($1.3 billion), driven by a surge in trading activity and customer
growth.
The company also committed to a €1 billion investment
in France and applied for a banking license there, reinforcing its European
ambitions.
This post is originally published on FINANCEMAGNATES.
