Fintech unicorn Revolut to increase the workforce by 20% in its crypto team

    08 Aug 2022

    British-based fintech company Revolut plans to expand its staff by 20% across different regions, including the UK, US, and Europe. The company plans to add these new employees to its crypto team over the next six months.

    Revolut is hiring employees across various positions, including crypto legal experts, software engineers, crime prevention experts, and financial compliance executives. According to Bloomberg, Revolut has already hired 43 staff members specialized in crypto, growing its crypto team to over 200 employees.

    The hiring effort aims to assist Revolut in expanding its crypto offerings. The firm now operates like an exchange platform that trades over 80 cryptocurrencies.

    The firm also expanded its crypto portfolio with 22 new cryptocurrencies. Revolut said that crypto was a long-term goal for the organization, and it was bullish about the crypto sector. Emil Urmanshin, Revolut’s crypto general manager, noted that crypto comprised 5-10% of the firm’s global revenues.

    “So far this year, we have hired several hundred staff across various teams in London and many more globally. We want to grow our crypto team by 20% in the next six months,” Urmanshin stated.

    Launched in 2015, Revolut is advertised as a low-cost and easy-to-use platform. Last July, Revolut reached a valuation of $33 billion, becoming the most valuable fintech company in the UK.

    With this move, Revolut has shown much resilience during the ongoing bear market compared to other crypto companies forced to lay off some of their staff. For instance, Coinbase and OpenSea said that they had over-hired during the bull market last year when the trading activities on their platforms hit record highs.

    Meantime, other firms, such as the world’s largest exchange Binance, showed resilience. The exchange CEO Changpeng Zhao recently announced that Binance was hiring for 2000 open positions in June despite the bearish attitude in the crypto market.

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