Revolut eyes crypto derivatives push, job listing suggests

Fintech elephantine Revolut appears to beryllium gearing up for a determination into the crypto derivatives marketplace arsenic a caller occupation posting hints astatine plans to physique the concern from scratch.

A caller listing for a “General Manager (Crypto Derivatives)” relation shows that Revolut is actively recruiting successful London, Barcelona and Dubai. The presumption would oversee the end-to-end motorboat of the derivatives platform, from merchandise architecture and trading infrastructure to regulatory compliance and commercialized strategy.

According to the listing, the extremity is to make “one of the astir trusted, scalable, and profitable derivatives offerings successful the world,” leveraging Revolut’s 50 million-strong planetary lawsuit base.

The determination comes arsenic Revolut continues to grow its crypto offerings. On May 19, the institution announced plans to invest much than 1 cardinal euros ($1.1 billion) successful France and use for a section banking license.

Cointelegraph reached retired to Revolut for comment but had not received a effect by publication.

Revolut’s occupation listing for General Manager (Crypto Derivatives). Source: Revolut

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Revolut’s crypto derivatives propulsion could clash with UK rules

Notably, Revolut’s ambitions for crypto derivatives could enactment the fintech institution astatine likelihood with existing rules successful the United Kingdom. The UK Financial Conduct Authority (FCA) banned crypto derivatives for retail users successful 2021, citing risks to inexperienced traders.

Given the restrictions successful the UK, Revolut’s archetypal marketplace for crypto derivatives remains uncertain. However, the listing mentions familiarity with European Union fiscal marketplace regulations arsenic a plus, and Dubai is different candidate, arsenic its regulatory authorities allows retail entree nether due licensing.

“If Revolut targets the UK market, regulatory buy-in would beryllium hard unless the merchandise is restricted to nonrecreational clients,” said Daniel Arroche, spouse astatine blockchain instrumentality steadfast D&A Partners. “But successful the EU oregon Dubai, support is much realistic.”

In 2024, Revolut obtained a long-awaited UK banking license, paving the mode for the institution to grow its lending services, including recognition cards, buy-now-pay-later products and perchance mortgages.

Related: Revolut expands crypto speech to 30 caller markets successful Europe

Revolut doubles down connected crypto

Founded successful 2015, Revolut was 1 of the archetypal large fintechs to clasp crypto, adding trading enactment successful 2017. Ever since, the institution has been expanding its crypto offering.

In May 2024, Revolut introduced Revolut X, a dedicated desktop crypto speech targeting experienced traders. The level offers trading for 100 tokens with debased fees and real-time on/off-ramp capabilities, with plans to grow to mobile successful 2025.

Notably, the company’s crypto part present generates a important stock of wide revenue. In 2024, the fintech elephantine doubled its pre-tax profit to 1 cardinal British pounds ($1.3 billion) from 438 cardinal pounds successful 2023, driven by accelerated lawsuit maturation and a resurgence successful crypto trading.

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