Not all companies are affected in the same way by the bear market: the new bank Revolut has announced that it is recruiting 20% more staff within its branch dedicated to cryptocurrencies. Fintech takes the point home and continues to show its interest in this industry, just months after announcing it was developing solutions to allow its users to interact with decentralized finance (DeFi).
Revolut far ahead of the bear market
British fintech Revolutionwho recently celebrated his 8 years of existenceplans to increase its staff within its dedicated cryptocurrency branch of the20% of order according to exclusive information of Bloomberg.
As the bear market has been blowing uncertainty in the cryptocurrency market for some time, causing more layoffs and reshuffles even within large companies, Revolut currently shows 13 vacant posts in this sector in Europe, the United States and the United Kingdom.
The company, which offers in particular a banking services for smartphoneswould generate between 5 to 10% of his income through its cryptocurrency business. Also, Revolut prefers to see long-term and show confidence in the future of theseas confirmed by the head of the crypto branch, Emil Urmanshin :
“We view cryptocurrencies as a long-term game and remain bullish on the cryptocurrency industry.”
Positions currently open are diverse, with the various position titles mentioning software engineers, crypto analysts, and financial crime prevention. According to Bloomberg, Revolut has already done so has recruited 43 people into its crypto arm since the beginning of the year.
This is a testament to the growth of Revolut, which it had raised $ 500 million in February 2020constituting the largest fundraiser to date for a European fintech.
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A true precursor, Revolut decided to do itopens its doors to cryptocurrencies in 2017, progressively expanding its range of services. For example, in early 2021, the neobank only offered a ten cryptocurrencies and now he has multiplied this number by 8, after the very recent addition of 22 of themincluding Apecoin (APE), SAND or FLOW.
Among the tools it offers are some trading solutions or a recurring purchase featurethus allowing you to benefit from the benefits of Average cost in dollars (DCA). In addition, the application offers in particular a system of earn and learn, as it has recently been able to do in collaboration with Polkadot (DOT).
A few months ago, Nik Storonoskyits CEO, said that the mobile app will include functionality in the not too distant future lending and staking via a decentralized wallet oriented towards decentralized finance (DeFi).
Thus, the contrast is increasingly marked between companies forced to lay off such as Coinbase or OpenSea, the latter recently separated from 20% of its staffthen invoking a ” macroeconomic instability and those that show resilience, such as Binance or Revolut.
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