Revolut Focuses on the Crypto Currency Department: Plans to Grow by 20%

Revolut, one of the world’s largest financial technology companies that also operates in the digital banking sector, is planning innovative steps for the cryptocurrency sector. According to a recent announcement by Revolut, the company will take growth steps in the cryptocurrency sector despite reducing its operations in the US.

Revolut Focuses on the Crypto Currency Department

A spokesperson for Revolut stated that they will hire an additional 20% workforce for the cryptocurrency department by the end of 2023. This move came after the platform recently announced the end of its services to US-based customers, which is why it is noteworthy that the platform now prioritizes the cryptocurrency department.

Revolut plans to hire over 1,000 people in Europe, the United Kingdom, and India. It is expected that more than 40% of these individuals will be directly recruited to the United Kingdom unit. The company is expected to make hires in many areas such as cryptocurrency compliance officers and service managers. It was also stated that cryptocurrency-focused services will increase in markets such as Spain, India, and Poland.

Revolut’s Goal is the End of 2023

In continuation of the spokesperson’s statement, it was mentioned that they prioritize cryptocurrency investments in order to grow the company. The financial technology giant plans to increase the number of employees working in the cryptocurrency department by 1/5 and aims to achieve this before the end of the year.

Revolut’s move at a time when the bear market is happening is actually an optimistic signal. Plans made by major institutions are usually long-term, and with these hires, Revolut shows that it is preparing for a bull market.

Currently, Revolut points to the uncertainty regarding regulations as the reason for the decision to suspend operations in the US. The overall expansion decision, however, is a move towards the cryptocurrency sector and is targeted for Europe.

Similar news about such companies can also be in the agenda for the cryptocurrency sector.