- The media has learned of plans to expand staff at neobank Revolut.
- The company has faced pressure from regulators in the UK and US.
- Despite this, the counterparty still plans to hire around 1,000 people.
Neobank Revolut plans to increase staffing at its cryptocurrency unit by 20 percent by the end of 2023. This is reported by Financial News citing its sources.
According to the publication, in total, the company wants to bring in about 1,000 people. 40% of them to the U.K. unit.
Revolut never received a financial counterparty license from the local regulator, as a reminder. According to unconfirmed reports, the reason lies in the firm’s reporting.
Besides the UK, the bank is looking for employees in India and Europe. This is how a company source commented on the situation to the publication:
“We’re really continuing to hire new people and expand the business as we go along.”</nbsp;
Revolut suspended support for some tokens at the end of June 2023, as a reminder. These assets were mentioned in the SEC’s lawsuit against the Binance exchange. The regulator believes they fall under the agency’s jurisdiction.
The company openly cited changes in the regulatory climate as the reason for its decision. In August, Revolut said it would abandon cryptocurrency trading in the U.S. market.
And in August, Revolut announced that it would abandon cryptocurrency trading in the U.S. market.