- Fintech giant’s valuation jumps two-thirds in secondary share sale.
- Crypto trading arm helped drive 149% profit surge last year.
- Revolut is part of a wave of fintech firms pushing into crypto.
Revolut’s crypto push just helped drive its valuation past the $75 billion mark, cementing its status as one of the world’s most valuable fintech firms.
The UK-based challenger bank achieved the new valuation on the back of a secondary share sale, which saw it enjoy a 66% jump from last summer’s $45 billion valuation.
Revolut’s secondary share sale saw staff able to sell up to 20% of their personal holdings at $1,381 per share, Bloomberg reported. The sale offers liquidity for long-serving staff and pushes Revolut’s valuation ahead of investment banking giant Barclays.
The sale comes as competition among fintech firms muscling into crypto is intensifying. Buoyed by the Trump administration’s pro-crypto tilt, tech ventures operating within financial services are increasingly leveraging their userbases to grab market shares.
At the same time, crypto firms have broadened their services to include more regular financial services like credit cards and payment platforms.
While Revolut’s new valuation puts it behind Robinhood and Coinbase’s respective $91 billion and $78 billion market caps, it still highlights how the British neobank is closing the gap.
Crypto core
Crypto has played a key role in Revolut’s soaring valuation.
Revenues from its wealth arm, which includes trading and crypto products, jumped 300% in 2024, according to the company’s 2024 annual report released in April.
Growth has been “driven by increased crypto trading activity as observed throughout the industry and the launch of the Revolut X crypto exchange,” the company said.
Revolut launched its own crypto exchange last year, marking a pivot from simple brokerage services to deeper infrastructure plays.
Overall pretax profits surged 149% to about $1.5 billion, driven by a wave of retail crypto trading alongside higher interest income and card fees.
Why it matters for crypto
For the digital assets industry, Revolut’s ascent highlights how crypto has broken into the mainstream.
With 52.5 million retail users in 2024, up from 38 million in 2023, and 15% of revenue from business clients, Revolut has massive global distribution.
Its crypto trading arm has given millions of everyday users their first exposure to digital assets.
The UK granted Revolut a banking licence in 2024, ending years of regulatory uncertainty. With full bank status imminent, crypto will sit at the heart of a regulated financial institution valued higher than many legacy lenders.
If Revolut decides to list in New York, which CEO Nik Storonsky has hinted, crypto revenues would be directly embedded in a major public fintech stock.
Crypto market movers
- Bitcoin is up 0.9% over the past 24 hours to trade at $110,546.
- Ethereum is down 1.5% to trade at $4,404.
What we’re reading
- Trump-backed WLFI valued at $7.6bn — but only 24% of tokens are tradable — DL News
- TRON Slashes Network Fees by 60% — Unchained
- China’s incubating crypto in Hong Kong but the city’s strict rules are frustrating entry | CNN Business — CNN
- Your September market roadmap — Milk Road
- Stablecoins could trigger taxpayer bailouts, warns Nobel economics laureate — Financial Times
- Banking lobbies eye revisions to stablecoin rules as Congress returns — DL News
Lance Datskoluo is DL News’ Europe-based markets correspondent. Got a tip? Email at lance@dlnews.com.
