It’s a tough world out there for crypto enthusiasts, of that there is little doubt. With losses since last November estimated at a colossal $2 trillion, crypto exchanges and fintech investors are still scrambling to pull their resources out of the embattled currencies. At the same time, even the largest financial technology companies are laying off record numbers of employees and cancelling aggressive expansion plans.
But for British fintech and crypto exchange Revolut, it might as well still be 2021. Not only is it continuing to expand its crypto workforce, looking to increase its team of programmers and specialists by 20%, but even amid a difficult summer it posted record growth and a national-best $33 billion valuation.
The reason for Revolut’s continued success? Market disturbances and impending regulation aside, there is still surging demand to purchase crypto, and savvy firms like Revolut evidently stand to make a great deal from holding their ground.
“We view crypto as a long-term investment and remain enthusiastic on the market,” said Revolut’s General Manager of Crypto Emil Urmanshin. “Despite the volatility, demand in crypto assets has surged, and we have more customers trading crypto than we did in July 2021.”