The London-based fintech company that allows cryptocurrency trading – Revolut – saw a 33 spike in its revenue in 2022, said the firm’s CFO.
Its positive results come in spite of the crypto market decline last year and the overall unfavorable macroeconomic conditions.
A ‘Strong Momentum’
Mikko Salovaara – Revolut’s CFO – revealed to Reuters that the company’s revenue surged to $1.03 billion in 2022.
He said the number of new subscriptions and business accounts has risen despite the cryptocurrency market’s downfall in the past several months. Revolut offers clients the option to buy, sell, and exchange over 90 digital currencies, including the leading ones – bitcoin (BTC) and ether (ETH).
“We have built a strong momentum,” the executive stated.
Salovaara said revenue from Revolut’s crypto operations declined compared to 2021 (during the bull run) and accounted for 5-10 of the overall income in 2022.
