fintech growth Archives - Coin Engineer https://coinengineer.net/blog/tag/fintech-growth/ Btc, Coins, Pre-Sale, DeFi, NFT Thu, 24 Apr 2025 09:36:13 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png fintech growth Archives - Coin Engineer https://coinengineer.net/blog/tag/fintech-growth/ 32 32 Revolut Doubles Profit To $1.3B Fueled By Crypto Trading Surge https://coinengineer.net/blog/revolut-doubles-profit-to-1-3b-fueled-by-crypto-trading-surge/ https://coinengineer.net/blog/revolut-doubles-profit-to-1-3b-fueled-by-crypto-trading-surge/#respond Thu, 24 Apr 2025 10:00:53 +0000 https://coinengineer.net/blog/?p=40757 Revolut more than doubled its pre-tax profit to £1 billion ($1.3 billion) in 2024, thanks to a strong rebound in crypto trading and the addition of 15 million new users. According to its annual report, the company’s revenue surged from £1.8 billion to £3.1 billion year-over-year. The fintech’s wealth division, which includes stock and digital

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]]> Revolut more than doubled its pre-tax profit to £1 billion ($1.3 billion) in 2024, thanks to a strong rebound in crypto trading and the addition of 15 million new users. According to its annual report, the company’s revenue surged from £1.8 billion to £3.1 billion year-over-year.

The fintech’s wealth division, which includes stock and digital asset trading, generated £506 million in revenue — almost four times more than in 2023. The renewed interest in Bitcoin (BTC) and Ethereum (ETH) played a key role in this growth.

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Revolut Secures UK Banking License

Founder and CEO Nik Storonsky described 2024 as a landmark year, highlighting the acquisition of the long-awaited UK banking license in July. This license enables Revolut to test and roll out financial services like credit cards, buy-now-pay-later products, and potentially mortgages.

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In May, Revolut launched Revolut X, a desktop-focused crypto exchange offering over 100 tokens, low fees, and real-time on/off-ramps. The platform is expected to roll out on mobile in 2025. In November, Revolut X expanded across 30 markets in the European Economic Area, enhancing its digital asset offerings.

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Challenges And Future Goals

Despite the surge in users, Revolut still struggles to convert app users into primary banking clients. In 2024, total deposits grew from $23.9 billion to $39.8 billion, a crucial factor for future lending services.

Revenue from premium plans increased by 74% to £423 million, while the business services division now contributes 15% of total revenue.

Revolut’s ambitious target: 100 million active users across 100 countries.

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