Cryptocurrency trading boosts digital bank Revolut’s profits to over £1bn in 2024
Jamie Crowley | Edited by Aoyon Ashraf on April 24, 2025, 12:54 PM
Digital bank Revolut has set a profit of over £1 billion ($1.33 billion) in 2024, partly due to a surge in cryptocurrency trading revenue.
The London-based fintech group’s wealth management revenue increased 298% from £127,139 to just over £500 million in the full year 2024. Revolut’s wealth management business spans cryptocurrency, commodities, trading and savings products.
Revolut also hit 50 million customers for the first time in 2024, with many of them likely to be interested in cryptocurrency trading amid the market’s explosive growth. Bitcoin (BTC) has risen more than 120% in a calendar year, driven by the approval of a spot Bitcoin ETF in the US in January and the election victory of crypto-friendly President Trump in November.
The fintech company hasn’t been the only beneficiary of the crypto trading surge. Crypto exchange Coinbase (COIN) and popular trading platform Robinhood (HOOD) have also reported increased crypto trading activity in the past year. Both companies are scheduled to release their earnings reports in the coming weeks.
Across the business as a whole, Revolut’s revenue also increased by 72% from £1.8 billion to over £3 billion. Pre-tax profit was over £1 billion, up almost 150% on 2023.
Cryptocurrency
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