The FinTech giant Revolut seems to organize for a move to the Krypto derivatives market, since a brand new job posting points out that plans for build up the business are rebuilt.
A current list for a task “General Manager (Crypto Derivate)” shows that Revolut is actively recruiting in London, Barcelona and Dubai. The position would monitor the end-to-end start of the derivative platform, from product architecture and trade infrastructure to regulatory compliance and business strategy.
According to the list, the aim is to create “one of the vital trustworthy, scalable and profitable derivatives on the planet” that use the 50 million global customer base of Revolut.
The step comes when Revolut further expanded his crypto offers. On May 19, the corporate announced plans to speculate greater than 1 billion euros (1.1 billion US dollars) in France and apply for an area banking license.
CoinTelegraph turned to Revolut to get a comment, but had not received a solution from publication.
Revoluts jobliste for General Manager (Crypto derivatives). Source: Revolut
Revoluts cryptody shares may urge May, which might collapse with the British rules
In particular, revoluts ambitions for cryptoderivates can bring the FinTech company into contradiction to the present rules in Great Britain. The British Financial Conduct Authority (FCA) banned in 2021 cryptodentivates for retail users, citing risks inexperienced dealers.
In view of the restrictions in Great Britain, Revolut's original marketplace for crypt (cryptody is uncertain. Nevertheless, the list mentions familiarity with the financial market regulations of the European Union as a plus. Dubai is one other candidate because his regulatory regime gives access to retail with proper licensing.
“If Revolut goals on the British market, regulatory buy-in could be difficult unless the product is restricted to skilled customers,” said Daniel Arroche, partner of the Blockchain law firm D&A Partners. “But within the EU or in Dubai, consent is more realistic.”
In 2024, Revolut received a long-awaited British banking license and paved the best way for the corporate to expand its credit services, including bank cards, buy-now-play-later products and potentially mortgages.
Revolut doubles crypto
Revolut was founded in 2015 and was one in all the primary big fintechs that Crypto accepted and added trade support in 2017. Since then, the corporate has expanded its crypto offers.
In May 2024, Revolut Revolut X presented a dedicated desktop crypto Exchange to experienced dealers. The platform offers a trade with 100 tokens with low fees and real-time-off-ramp functions, whereby the plans for the expansion of mobile are offered in 2025/off-ramp functions.
The company's crypto department now generates a major share of the overall income. In 2024, the Fintech giant doubled its profit before tax to £ 1 billion ($ 1.3 billion) of £ 438 million in 2023, which is because of quick customer growth and a resolution within the crypto handle.
