Exec leaves Revolut to pursue crypto venture

Revolut chief executive officer Alan Chang will be leaving the fintech company to set up a new venture in crypto.

Chang is the latest executive from the traditional fintech sector looking to switch to cryptocurrency. He is planning to raise $100m to fund his new venture.

Reportedly, this will be done in collaboration with Charles Orr, another prominent Revolut employee. Orr left in 2020 and has been working in the blockchain sector since. Chang describes his new project as the point where renewable energy and Web3 meet.

Chang hopes the project will contribute to solving climate change. So far, details about the project are scarce and no other facts are known.

His decision to leave comes at an interesting point as well. Revolut itself is launching in the crypto space which means that the fintech company is not averse to these new technologies and how they stand to benefit consumers and the financial services business.

Revolut has been gearing up for a more extensive presence in the cryptocurrency sector. The popular payment service added a number of leading crypto tokens in 2021, including Uniswap, cardano, loopring, and synthetic among others.

Revolut also raised $800m becoming one of the most highly-valued fintech companies in the UK in 2021. It’s shift towards crypto indicates higher consumer interest in this sector and the technology it represents.

In the meantime, you may spend your crypto (using Revolut or otherwise) directly at gaming websites such as Bitcasino, 1xBit or FortuneJack.

Source

Updated: 03/14/2022 — 19:00