Unfazed by the bear market, Fintech Company Revolut Hires 20% More Crypto Talent

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Last Updated on August 5, 2022 by Bitfinsider

Revolut, a fintech startup, is unfazed by the bear market’s ongoing fragility and continues its cryptocurrency campaign with plans to increase its digital currency staff by 20%.

The British finance business plans to increase the number of crypto-focused staff in the US, the UK, and Europe over the next six months.

The fintech startup is hiring for 13 positions involving cryptoassets, including computer programmers, experts in financial compliance, and professionals in crime prevention.

Revolut is recruiting en masse

Revolut operates as a cryptocurrency trading platform that trades more than 80 coins and has 230 open positions across several divisions.

Revolut made its debut in 2015 and markets itself as a user-friendly and affordable platform. According to current data, the number of people buying cryptocurrencies in the United Kingdom increased by 290 percent between July 2020 and July 2021.

It added another 30% to its growth in July of this year. The most valuable fintech company in the UK, Revolut, was valued at $33 billion in July of last year.

Emil Urmanshin, general manager of cryptocurrency at Revolut, says: “We view crypto as a long-term investment and remain enthusiastic on the market… crypto accounts for 5-10% of the company’s global revenue.”

The market capitalization of all cryptocurrencies fell to $980 billion in June of this year, a decline of almost 12%. The industry as a whole has experienced losses of more than $2 trillion since its peak in November 2021.

Revolut recruits as others dismisses

Revolut sets itself apart from rivals like Coinbase and OpenSea, which were forced to fire 18% and 25% of employees, respectively, due to the bear market’s severe effects on business operations.

Both businesses acknowledged that they employed too many people the previous year, when business was booming.

In preparation for a market drop, Binance, the biggest cryptocurrency exchange in the world, exercised caution during the bull market. The corporation has more than 2,000 unfilled positions, according to Changpeng Zhao, chief executive, who made this statement in June.

Application for a broker-investor Inflation and the cryptocurrency bear market are to blame for Robinhood’s recent 23 percent employee reduction, which follows a 9 percent reduction in April.

In response to the ongoing price decrease, Gemini, Coinbase, OpenSea, and Crypto.com have all announced sizable pricing reductions. Large cryptocurrency exchanges Kraken, FTX, and Binance are also hiring in addition to Revolut.

“Despite the volatility, demand in crypto assets has surged, and we have more customers trading crypto than we did in July 2021,” Urmanshin added.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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