Revolut, the UK-based fintech giant, is taking bold steps into the crypto derivatives market, even as UK regulations ban these products for retail investors. Following record profits in 2023, the financial superapp is now doubling down on digital assets, targeting both institutional and global retail clients with a new wave of crypto offerings.
A Strategic Shift Toward Derivatives
Revolut is actively hiring a General Manager to lead the development of a new crypto derivatives product. According to job listings posted in late May 2025, the company wants to build a platform “from zero to scale” into one of the most profitable and trusted derivatives offerings worldwide. Recruitment is currently underway in London, Barcelona, and Dubai.
The move marks a significant shift for Revolut, which has offered basic crypto services—like buying, holding, and exchanging digital currencies—since 2017. This latest expansion aims to tap deeper into institutional finance, while carefully navigating strict regulatory environments like the UK.
UK Ban Pushes Revolut Abroad
Since January 2021, the UK’s Financial Conduct Authority (FCA) has banned the sale of crypto derivatives to retail investors, citing the high risk, market volatility, and limited public understanding of these complex products. The FCA argues these products are “ill-suited” to retail consumers.
Revolut’s Group Lead Legal Counsel for Crypto, Konstantinos Adamos, has previously criticized this stance, arguing that a blanket ban ignores the needs of sophisticated but non-professional users. Still, the company appears to be focusing its crypto derivatives rollout in jurisdictions where regulation is more flexible.
According to Daniel Arroche, a partner at blockchain law firm D&A Partners, targeting the UK market would be difficult unless Revolut limits access to professional clients. However, regions like the European Union and Dubai offer more transparent frameworks, making regulatory approval more feasible.
“In the EU or in jurisdictions like Dubai, where licensing regimes exist and retail access is possible under regulation, securing approval is achievable,” Arroche noted.
Doubling Down on Crypto After Record Profits
Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, Revolut has grown into one of Europe’s most valuable fintech companies. After suffering losses during the 2022 crypto market downturn, the company returned to profitability in 2023, driven largely by renewed interest in crypto trading.
In its most recent financial report, Revolut revealed a 298% year-over-year growth in wealth revenues, thanks to increased digital asset activity and the launch of its own crypto exchange, Revolut X.
Emil Urmanshin, Revolut’s Director of Crypto and New Bets, said on LinkedIn last week that crypto already contributes “double-digit percentage points” to the company’s overall profits and that the firm is just getting started.
“We can at least double current numbers by expanding globally and building out a crypto derivatives business,” Urmanshin stated.
The company has confirmed that it’s hiring to expand its crypto product and service portfolio, with a special focus on institutional clients. However, a spokesperson clarified that this expansion is still in early stages, and further details are yet to be disclosed.
Institutions Drive the Next Crypto Boom
Revolut’s strategic pivot aligns with broader market trends. In early 2024, the U.S. Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs, giving both retail and institutional investors regulated exposure to Bitcoin. In parallel, the European Union passed its Markets in Crypto-Assets (MiCA) regulation, offering a clearer framework for crypto companies.
Meanwhile, the UK is still in a consultation phase for broader crypto regulations. The FCA continues to take a cautious stance, especially toward retail involvement.
In contrast, crypto derivatives are booming in jurisdictions with defined rules. In May 2025, Kraken launched a regulated crypto derivatives platform across the European Union for both retail and institutional users. A month earlier, Coinbase made headlines by acquiring Deribit, a major crypto options and futures trading platform, for $2.9 billion.
“It’s good business when it’s between institutions,” said Charles Kerrigan, partner at CMS law firm and head of its digital asset practice. “Regulators aren’t typically concerned about that.”
Arroche agrees, noting that crypto derivatives can be one of the most profitable segments in digital assets, generating revenue from trading fees, leveraged positions, and margin services. He also highlighted that EU regulations offer clear paths for both institutional and retail derivatives trading, something the UK still lacks.
What’s Next for Revolut?
Revolut is betting big on the future of crypto and institutional finance. By building a new crypto derivatives platform outside of the UK and targeting regions with established licensing regimes, the company is positioning itself as a major global player in the next phase of digital asset growth.
While it remains to be seen which jurisdiction will host Revolut’s first crypto derivatives launch, the company’s recent hiring spree and strategic statements suggest that it’s moving quickly.
As more traditional finance players enter the crypto space, Revolut’s early-mover advantage and robust fintech infrastructure could help it capture significant market share, especially among institutional clients seeking regulated, tech-driven access to crypto markets.
For now, the fintech is walking a careful line, balancing innovation with compliance, and global growth with local restrictions. But one thing is clear: Revolut is not backing down from crypto. In fact, it’s doubling down.
