Revolut Set to Increase Crypto Division by 20% Despite Suspending US Client Services (Report)

A purported statement from a Revolut spokesperson reportedly mentioned that the company is actively hiring and expanding its business during this ongoing phase of growth.

Revolut, the forefront player in the financial technology sector, has boldly unveiled its strategic initiative to amplify its worldwide cryptocurrency team, projecting an impressive surge of up to 20% in new workforce recruitment by the culmination of 2023.

This pivotal decision, although unexpected, testifies to Revolut's unwavering commitment to innovation. It notably follows the company's recent announcement regarding the suspension of digital asset services for its US clientele, effective from September.

• According to a report by Financial News, Revolut plans to bring in more than 1,000 individuals this year across the UK, Europe, and India, with around 40% allocated to the UK sector.
• The firm is seeking candidates for various roles concerning crypto compliance and investigations within global markets like Spain, India, and Poland.

A Revolut spokesperson reportedly stated to the media outlet that the company is actively hiring and expanding its business during the ongoing expansion phase.

• The fintech company plans to grow its crypto team by approximately 20% by the end of this year.
• The forthcoming wave of recruitment might signal Revolut's ongoing dedication to the digital asset sector, despite discontinuing services for its American customers.
• Last week, the company revealed that users based in the US will lose the ability to buy cryptocurrencies on the platform starting September 2, while selling and holding will halt from October 3.
• Much like various other firms, Revolut highlighted regulatory uncertainties in the world's largest economy as the primary driver influencing its choice:

Due to the changing regulatory landscape and uncertainties in the US crypto market, we've made the tough choice, in collaboration with our US banking partner, to temporarily halt cryptocurrency access via Revolut in the US.