Revolut, the UK-based fintech heavyweight, is preparing to enter the crypto derivatives space, as revealed by a recent job listing for a “General Manager (Crypto Derivatives).” The position, based in London, Barcelona, or Dubai, will oversee the creation of a derivatives trading platform from the ground up, covering everything from technical infrastructure to regulatory strategy and commercial rollout.
With over 50 million global users, Revolut aims to leverage its broad customer base to launch what it describes as “one of the most trusted, scalable, and profitable derivatives offerings in the world.” The move signals Revolut’s deeper commitment to the crypto sector, which already plays a significant role in its revenue model.
Regulatory Headwinds in the UK
Despite the ambitious plan, Revolut’s push into crypto derivatives could face serious hurdles in its home market. The UK’s Financial Conduct Authority (FCA) banned crypto derivatives for retail investors in 2021, citing high volatility and potential risks to inexperienced traders. This regulatory stance effectively rules out a large portion of Revolut’s UK customer base for any future derivatives offerings.
Revolut’s job listing for General Manager (Crypto Derivatives). Source: Revolut
Industry experts believe Revolut may instead look to friendlier jurisdictions. “If Revolut targets the UK market, regulatory buy-in would be difficult unless the product is restricted to professional clients,” said Daniel Arroche, partner at blockchain law firm D&A Partners. However, the listing notes that familiarity with EU financial market regulations is a plus, suggesting that the European Union and Dubai could serve as initial launchpads.
Dubai is particularly attractive given its progressive regulatory environment that permits crypto derivatives trading under proper licensing. The city is fast becoming a global crypto hub, and Revolut’s active recruitment for the role in Dubai signals strategic alignment with the emirate’s crypto ambitions.
Crypto Division Powers Revenue Surge
Revolut’s expanding crypto business is already proving lucrative. In 2024, the company doubled its pre-tax profit to £1 billion ($1.3 billion), up from £438 million in 2023. This growth was driven by a combination of rising customer numbers and renewed interest in crypto markets. The firm’s crypto unit has emerged as a key contributor to overall revenue, demonstrating the financial impact of its digital asset strategy.
The momentum has been building over the years. Revolut first integrated crypto trading in 2017, and in May 2024, it launched Revolut X, a dedicated desktop crypto exchange tailored for experienced traders. The platform supports over 100 tokens with low fees and real-time fiat on/off-ramp capabilities. A mobile version is set to follow in 2025.
Investments and Licensing Strategy
Revolut’s crypto derivatives ambitions come amid broader expansion efforts. The fintech recently announced a €1 billion ($1.1 billion) investment in France, alongside plans to apply for a local banking licence. This follows its successful acquisition of a long-awaited UK banking licence in early 2024, enabling the firm to offer a full suite of financial products, including credit cards, buy-now-pay-later services, and potentially mortgages.
With the new derivatives platform in development, Revolut appears to be cementing its role as a full-spectrum financial services provider with a strong digital asset component. The upcoming launch of crypto derivatives could significantly enhance its crypto portfolio, provided the company successfully navigates regulatory landscapes.
Revolut’s move into the crypto derivatives market represents both a bold expansion and a complex regulatory dance. While the fintech unicorn is well-positioned with the scale, infrastructure, and capital to compete, the regulatory frameworks in its key markets will largely determine the scope and success of its offering.
