Revolut Sees 72% Revenue Growth Driven By Digital Asset Trading

Revolut recorded a staggering performance in 2024. The UK-headquartered bank announced, in its 24 April 2025 annual report, that its pre-tax profits doubled to $1.3 billion, while revenues surged 72% to £3.1 billion from £1.8 billion in the previous year.

“Wealth revenues grew 298% YoY, driven by increased crypto trading activity as observed throughout the industry and the launch of the RevolutX crypto exchange,” said Victor Stinga, Chief Financial Officer of Revolut.

It is worth noting that the company launched RevolutX, a dedicated desktop crypto exchange, in May 2024. It became popular for offering over 100 tokens with competitive fee structures and real-time on/off ramp capabilities.

Furthermore, Revolut said RevolutX will be available for a broader audience on mobile platforms starting 2025.

“2025 is already off to a great start and we look forward to a very exciting year ahead,” said Martin Gilbert.

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“2024 was another landmark year for Revolut, with continued growth across all key business areas,” said Revolut founder and CEO Nik Storonsky

Revolut more than doubled its profits to £1B in 2024 as crypto trading surged and customer numbers hit 50M+.

Revenue jumped to £3.1B, up from £1.8B in 2023.

Its wealth division, including crypto, brought in £506M – nearly 4x last year.#Revolut #CryptoTrading pic.twitter.com/g80fumBLUP

— Satoshi Talks (@Satoshi_Talks) April 24, 2025

By November 2024, Revolut expanded its crypto exchange services across 30 new European Economic Area (EEA) markets, including Belgium, Cyprus, and Denmark. This expansion strategy has allowed the company to capitalize on growing interest in digital assets across Europe.

“Against the backdrop of strong business performance, we executed a secondary sale transaction at an implied $45 billion valuation to provide liquidity opportunities to employees, alumni, and early shareholders, establishing Revolut as the most valuable private technology company in Europe,” said Stinga. “Through this process, we welcomed on board a number of new investors known for their thought leadership in our industry including: Coatue, Durable Capital Partners, Dragoneer, Fidelity Management & Research Company, Baillie Gifford, Growth Equity at Goldman Sachs Alternatives, D1 Capital Partners, Mubadala, and Affinity Partners, among others. We are grateful for their trust and are looking forward to their support.

“We have observed positive trends across all revenue streams, driven by customer base expansion on one hand and deepening engagement across all our products on the other,” said the CFO.

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Did the crypto market’s resurgence played a pivotal role in the bank’s growth?

Throughout 2024, Revolut strategically enhanced its crypto offerings, positioning itself as a user-friendly gateway to digital assets for retail investors.

Revolut’s strategy extends beyond retail banking and cryptocurrency trading. For cryptocurrency enthusiasts and investors, Revolut’s results offer further evidence that digital assets are becoming increasingly mainstream, with regulated financial institutions now playing a significant role in facilitating market access and growth. Furthermore, the company has been actively diversifying its revenue sources, with notable success in premium subscriptions and business services. Revenue from paid plans climbed 74% year-over-year to £423 million.

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Key Takeaways

“2024 was another landmark year for Revolut, with continued growth across all key business areas,” said founder and CEO Nik Storonsky.

By November 2024, Revolut had expanded its crypto exchange services across 30 new markets in the European Economic Area (EEA), including Belgium, Cyprus, and Denmark.