Crypto business helps Revolut to win the first billion
Revolut, Europe's most valuable Fintech startup, for the first time in 2024 reported a leap in profits to over £ 1 billion. With a newly preserved British banking license and strong growth in the crypto and asset management area, the company sets the course for a new expansion phase.
The turnover of Revolut rose to £ 3.1 billion in 2024-primarily driven by crypto trading and asset management. In addition, the company received a British banking license that enables entry into the lending business, such as the Financial Times reported.
Recorder result from cryptocurrencies and asset management
Revolut owes a significant part of his success to the booming business with digital assets. The area of asset management, stock trade and especially cryptocurrencies, generated around £ 506 million sales in 2024 – almost four times as much as in the previous year. The division helped Revolut in 2021 to his first annual profit when private investors wanted to secure a share in the crypto boom. In the following year, however, the company's revenue decreased from the crypto business.
At the same time, Revolut's customer base grew to over 50 million users worldwide, which represents further evidence of the increasing acceptance of fintech offers in everyday life. The strong demand for crypto investments during market recovery contributed significantly to this growth. Revolut thus established itself as one of the leading providers in the field of digital financial services.
Bank license paves away for expansion to the lending business
Another milestone for Revolut was the preservation of a British banking license after a three -year test process. In the future, this enables the company to offer classic bank products such as mortgages and consumer loans.
Revolut's credit portfolio is currently still making a relatively small part of the business, with outstanding loans worth around 979 million pounds. Nevertheless, the license signals the clear claim to compete with established large banks in the long term and to widen your own earnings base.
The next step: Revolut plans global expansion and strives to achieve 100 million daily active users. The company would like to develop from a pure payment provider to a full, international universal bank. Cryptocurrencies will continue to play a central role.
