Cryptocurrency boom fails to stem losses at UK fintech firm Revolut
by Kalyeena Makortoff Banking correspondent from Technology | The Guardian on (#5KAPC)
Losses almost double last year despite growing demand for crypto trading pushing up revenues 34%
Losses at the British fintech firm Revolut nearly doubled last year, despite cashing in on the year-end cryptocurrency boom.
The company - founded by the former Lehman Brothers trader Nik Storonsky and chaired by the ex-Standard Life Aberdeen boss Martin Gilbert - said it made 39m on its cryptocurrency investments last year, while growing demand for its crypto trading services helped pushed revenues up 34% to 222m in the 12 months to 31 December.
Continue reading...