Revolut’s Profits Surge to $1.3B Fueled by Crypto Trading and User Expansion

Revolut, the London-based fintech giant, reported a staggering £1 billion ($1.3 billion) pre-tax profit for 2024—more than double its 2023 earnings. The surge comes alongside a 72% revenue jump to £3.1 billion, powered by explosive growth in cryptocurrency trading and a swelling customer base.

The company’s long-awaited UK banking license provided regulatory tailwinds, while its crypto services emerged as a key profit driver. Revolut’s platform has become a gateway for retail investors accessing digital assets, though the report notably avoids specifying which cryptocurrencies fueled the trading boom.

With 40 million global users and counting, Revolut’s success underscores the accelerating convergence of traditional finance and digital assets. The neobank’s trajectory mirrors broader industry trends, where platforms blending banking services with crypto offerings are capturing market share from legacy institutions.