Revolut Hiring to Build Crypto Derivatives Platform
Revolut is planning to enter the crypto derivatives market, as indicated by a job posting for a General Manager (Crypto Derivatives) in London, Barcelona, and Dubai. The role will oversee the launch of a derivatives platform, aiming to create a trusted and scalable offering for its 50 million global customers. This initiative follows Revolut's expansion of crypto services, including a €1 billion investment in France and a local banking license application. However, UK regulations pose challenges, as the FCA banned crypto derivatives for retail users in 2021. Familiarity with EU regulations is preferred, and Dubai's regulatory environment may offer more opportunities. In 2024, Revolut obtained a UK banking license and has been expanding its crypto offerings, including the launch of Revolut X, a desktop exchange for experienced traders. The crypto division significantly contributes to overall revenue, with pre-tax profits doubling to £1 billion in 2024.
