Revolut to increase crypto staff by 20%

British fintech company Revolut has announced an ambitious plan to increase its crypto-focused staff by 20% in the UK, the US and Europe over the next six months.

This move was announced in the context of the broader challenges that the cryptocurrency industry faces.

Revolut is also making use of the series of events that saw many prominent companies in the sector shed staff.

Most recently, Robinhood announced that it will be cutting its staff by 23%. Now, Revolut is poised to make the most out of this development with its crypto-focused team expanding rapidly.

The firm currently has 230 open positions, which reflects its forecasts for the future which will involve growth and the development of dedicated crypto products.

Presently, Revolut supports 80 digital assets with 22 of these added on its trading platform just this Wednesday.

Revolut has taken a more tamed approach to cryptocurrencies, not leaning in on it too heavily like Robinhood did. As a result, crypto revenue only accounts for 5-10% of the company’s overall revenue projections.

“We see crypto as a long-term play and remain bullish on the crypto industry,” said company crypto general manager Emil Urmashin who conveys optimism and buoyancy about the industry.

Even though Revolut faced a backlash in 2015 when it first rolled out crypto-related products, it has been successfully navigating this challenging space.

So much that today, the company can continue to expand without endangering its core financial mission.

Building in a bear market may not look too easy but Revolut has found a way. It has surpassed companies such as Coinbase and OpenSea which had to reduce 18% and 25% of their staff members respectively.

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Updated: 08/05/2022 — 16:00