cryptocurrencies

Revolut is continuing its crypto push with plans to increase its digital currency staff by 20%, despite the market slowdown.

Following the announcement that Revolut is adding 22 new crypto tokens to its fintech platform, the company is continuing to double down on cryptocurrencies by advertising 13 cryptoasset-related positions.

The roles include positions in compliance and financial crime prevention, both key areas for Revolut in its bid to gain a full crypto licence from the Financial Conduct Authority (FCA).

Revolut was hit with a number of resignations from staff in compliance roles in July, including the UK head of regulatory compliance, Justine Wootton.

The London-based fintech has already tripled its crypto headcount from July of last year, with the hiring of 43 new staff.

“We see crypto as a long-term play and remain bullish on the crypto industry,” said Emil Urmanshin, crypto general manager at Revolut.

Urmanshin went on to say that cryptocurrencies already accounted for as much as 10% of the company’s global revenue. This week, Revolut launched a crypto service in Singapore, allowing customers there to buy, hold and sell cryptocurrencies via its mobile app.

The bolstering of its cryptoasset offering comes as Revolut continues to face delays in its application for a full UK banking licence.

Market conditions in crypto have yet to fully recover from the crash starting in the spring of this year, when jobs across the entire sector were lost in the thousands at companies like Gemini, Bitpanda, and the now bankrupt Three Arrows Capital.

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