One of the most prominent financial tech companies, Revolut, has stated that it is primed to expand its crypto division. Moreover, the decision arrives despite the company’s decision to halt its services to customers located in the United States.
Indeed, Financial News Reported that the digital lender is eyeing a 20% increase in its cryptocurrency team. Occurring on the heels of the company’s exit from the North American country. Specifically, it divulged its intention to add 1,000 people throughout the United Kingdom, Europe, and India.
Also Read: Revolut to Take Down US Crypto Services Due to Regulation Concerns
Revolut Expands Crypto Team Following US Exit
The digital asset industry in the United States has observed a certain hesitancy from companies. However, it is to be expected considering the ongoing regulatory concerns in the region. Now, one company has stated its departure from the market has been enacted despite its continued desire to grow the team.
Fintech company Revolut has announced that it is expanding its crypto division by 20%. Moreover, the move comes after the company opted to exit the US market due to the ongoing lack of regulatory clarity. Subsequently, this provides an example of US hostility toward the industry, pushing important market participants outside of its region.
Also Read: Revolut to Delist Polygon (MATIC), Solana (SOL), Cardano (ADA), in the US
“We are indeed continuing to hire and grow the business as we continue to expand,” one spokesperson said. Additionally, the company is seeking candidates to fulfill roles related to compliance and investigations in markets like Spain, India, and Poland. On top of its commitment to add 1,000 team members throughout its global operations.
The development clearly shows that Revolut’s commitment to the digital asset industry, and the necessity to be present in the US are not mutually exclusive. Moreover, it is following a similar plan enacted by different entities. Proving that continued regulatory concerns are simply pushing innovation in the sector elsewhere.
