Revolut profits more than double to top £1bn in 2024 on crypto trading surge

Cryptocurrency trading boosts digital bank Revolut's profits to over £1bn in 2024

The London-based fintech group's revenue from assets increased 298% from £127,139 to just over £500 million for the full year 2024.

Jamie Crowley | Edited by Aoyon Ashraf on April 24, 2025, 12:54 PM

Key points:

• Revolut's 2024 profits are set to reach more than £1 billion ($1.33 billion) thanks to a significant increase in cryptocurrency trading revenue.
• In 2024, Revolut's customer base will surpass 50 million for the first time, and many of them will likely want to try their hand at cryptocurrency trading as the market grows rapidly.
• The fintech group's revenue increased by 72%, from £1.8 billion to more than £3 billion, with asset income (including cryptocurrency) increasing by 298%.

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.

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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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