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Revolut increases hiring by offering crypto services to its 40 million customers – DL News
- Revolut is recruiting for its crypto team.
- It’s not the only one: PayPal and Stripe are among the companies strengthening their digital asset units.
- Their efforts come as crypto markets prepare for a huge rally.
Revolut, the British fintech company, aims to supplement its talent pool with 12 new recruits as it strives to grow its crypto business.
The neobank, valued at $26 billion, serves 40 million customers.
Revolut, which as one of the earliest crypto adopters among fintechs, is looking to partner with more crypto wallets such as MetaMask, a company spokesperson said. DL News.
Revolut isn’t the only digital payment platform hiring for crypto positions. PayPal, the global payment processor, announcement 22 crypto-related roles. And Band and Robinhood, the discount trading platform, each have four positions open each.
The companies did not respond to requests for comment.
Their recruiting efforts speak to the industry’s renewed optimism amid regulatory approval of Bitcoin and Ethereum spot exchange traded funds This year
Not only are the largest crypto exchanges hiring over 1,200 new positions, but industry observers expect Bitcoin to break it’s March saveAnd venture capital investments to skyrocket.
“We’re in a bull market like we’ve never seen before – there’s going to be so much work for us from a recruiting perspective,” Sam Wellalage, founder of crypto recruiting firm WorkInCrypto.Global, said recently. . DL News.
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Fintech competition
Revolut faces competition from other companies entering the sector.
Johann Kerbrat, general director of that of Robinhood crypto arm, said DL News it wants to be “the on-ramp to the world of cryptography.”
Robinhood’s crypto push will propel its market capitalization to around $26 billion in 2025, up from $18 billion today, according to analysts at research firm Bernstein. estimate.
Somewhere else, Band will resume crypto payments this summer, and PayPal recently added its own stable currency to its combination of crypto services.
Revolut’s crypto push
Revolut has made crypto a key part of its business model since launching cryptocurrency trading in Europe in 2017.
During the 2021 bull run, crypto contributed between 30% and 35% of Revolut’s £39.8 million profit, CEO Nikolay Storonsky said. Bloomberg Television in 2022.
These tailwinds ceased in 2022 when Revolut returned to the red, revealing a loss of £25m in 2022. 2022.
In March, the neobank unveiled Revolution rampwhich allows users to purchase and deposit cryptocurrencies directly into MetaMask wallets.
Eric Johansson is the editor-in-chief of DL News. Do you have any advice? Email to eric@dlnews.com.