Digital bank Revolut expects revenue to exceed £1.5bn in 2023

20/12/2023 17:29

British digital bank Revolut expects revenue to exceed £1.5 billion ($1.9 billion) in 2023, thanks to rising interest rates across Europe. According to unaudited financial reports, Revolut's average monthly revenue in the first half of 2023 was approximately 125 million pounds. According to people familiar with the matter, Revolut currently adds about 300,000 new users every week and has nearly 40 million customers worldwide. Revolut has recently launched new products that have increased its return rate. The company’s interest income is three times its foreign exchange revenue, while cryptocurrency activity has dropped to less than 5% of the platform’s total trading volume. Currently, Revolut is actively seeking to obtain a banking license in the UK to provide credit card, loan and deposit services in the UK. (Bloomberg) Earlier news, people familiar with the matter revealed that digital bank Revolut said that in response to upcoming new regulations from British regulators, it plans to suspend some encryption services to its British business customers. The bank plans to suspend its UK customers’ ability to purchase cryptocurrencies through Revolut Business from January 3, 2024, although customers in the country will still be able to hold and sell cryptocurrencies.

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Digital bank Revolut expects revenue to exceed £1.5bn in 2023

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