In a surprising development, Revolut Amplifies Crypto Commitment with 20% Team Expansion by 2023, the eminent financial technology firm, has unveiled plans to augment its global cryptocurrency team. The company aims to boost its workforce by nearly 20% by the end of 2023.
A Unexpected Move by Revolut Amid US Service Suspension
Contrary to this expansion, recent news indicated Revolut’s intention to halt digital asset offerings to its American clientele starting September. Given their previously robust commitment to the crypto domain, this move raised eyebrows.
As per sources from Financial News, Revolut is gearing up to integrate over 1,000 new talents into its teams in Europe, the United Kingdom, and India this year alone. Notably, the UK unit is poised to receive the lion’s share of this recruitment drive with a 40% increase.
Hunt for Global Crypto Specialists
Follow CryptoMode on Twitter, Youtube and TikTok for news updates! The firm is casting its net wide, scouting for experts in crypto compliance and investigations in critical global markets, notably Spain, India, and Poland. A spokesperson from Revolut confirmed this ambitious endeavor, stating, “We are unswervingly pushing our hiring plans to foster business growth and expansion.”
This aggressive recruitment strategy underscores Revolut’s steadfast dedication to the cryptocurrency sector. This stance seems unwavering, even in the wake of their recent announcement. As of September 2, US clients will face restrictions in crypto purchases on their platform, with selling and holding services concluding by October 3.
Regulatory Hurdles Prompt Decision by Revolut
Aligning with several industry counterparts, Revolut attributes its US service cessation to the murky regulatory landscape prevalent in the globe’s leading economy.
“The evolving regulatory framework and the prevailing uncertainties surrounding the US crypto market have compelled us, in collaboration with our US banking ally, to curtail cryptocurrency access via Revolut in the US.”
While Revolut’s decision to suspend services in the US might seem contradictory to its aggressive hiring plans, it is evident that the fintech behemoth remains steadfast in its commitment to the cryptocurrency sector. Only time will determine how these strategic moves play out in the ever-evolving crypto landscape.
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