Revolut’s Crypto Business Sees 4x Revenue Spike, Boosting Annual Profit

In a year marked by expansion and momentum, Revolut doubled its net profit to $1.05 billion—a leap largely attributed to the dual engine of crypto trading revenues and an ever-growing customer base.

The platform welcomed nearly 15 million new users, now serving 50 million globally. That influx drove stronger returns from card fee income and deposit interest, two core revenue streams. Together, they propelled the company’s total revenue from $2.4 billion to $4.1 billion, building on last year’s $458 million in net profit.

Beyond its accelerating user acquisition, Revolut obtained a UK banking license, granting it access to regulated credit markets and the opportunity to introduce new financial services. These advancements have expanded the firm’s monetization strategy.

Notably, its digital asset segment posted some of the most significant gains across the business. 

Сheck this out: Crypto Data Goes Next Level — Revolut Partners with Pyth Network

Trading revenue from cryptocurrencies and equities reached $670 million, up 4x from the prior year. Revolut’s investment platform now spans a broader asset class range—including bonds, ETFs, and physical commodities like gold and oil—enhancing its competitive edge through portfolio diversification.

We're on a mission to simplify all things money, empowering our customers to achieve their financial goals through innovative and effortless banking solutions,

the report reads.

Revolut has been making waves in the crypto scene, especially with younger Europeans. Its latest move? Launching Revolut X, a desktop exchange built for experienced traders, now live across the European Economic Area—with countries like Belgium, Cyprus, and Germany already covered. The mobile version should land by the end of this year.

Revolut CEO and co-founder Nikolay Storonsky called 2024 a landmark year for the company, reiterating its ambition to hit 100 million active users. But even with impressive growth, Revolut is grappling with internal friction—from allegations of weak anti-fraud measures to a high attrition rate linked to extensive layoffs across teams.

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Revolut continues to contend with a structural hurdle: a significant portion of its user base does not treat the platform as a primary financial institution. This directly impacts deposit volumes, which are critical to funding credit products and achieving banking competitiveness. As of now, Revolut manages about $40 billion in customer assets, compared to Deutsche Bank’s holdings exceeding $600 billion.