Revolution Profit Surge above 1 billion pounds on Cripto Trading Boom

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The revolution more than last year has doubled its profit to 1 billion pounds, as the most valuable starting in Europe has exceeded 50 million customers and has benefited from increasing cryptocurrency trading.

In the annual report published on Thursday, Revolution They said that the profit before tax increased from $ 438 million a year earlier. Revenues increased to 3.1 billion pounds, of 1.8 billion £.

Revolution’s record profit has filed growth by customer numbers, which has reinforced its two sources of income: fees that make up the card and interest earned on the deposit. It was said that almost 15 million new customers added last year.

The founder and executive director of Nik Stotonki said “2024 was the orientation year for the revolution” during which the company based on London has provided a bank license in his home market and Evaluation of $ 45 billion.

“But we’re just starting,” he said, adding that the company now aimed 100 million daily active customers in 100 countries.

Consumption in Cripto trading also helped Fintech last year. The business operations of the Revolution, which contains inventories and digital trading funds, have led to revenues of £ 506 million – almost a four-time increase in 2023. years.

The department was in 2021. raised the revolution on its first annual profit, when retailers were rushing to get a crippt blossom. However, the company’s revenues from CRIPTO deflected next year.

Although the revolution attracted millions of customers in its elegant mobile app, Fintech However, he faces a significant challenge in convincing them to use it for his basic bank account. The collection of critical mass of deposits is a crucial part of the company’s plan for unlocking loans and compete with the highest retail banks.

The total balance of revolates is moving from 18BN in the amount of 18 billion pounds in 30 billion pounds during the year. Company – who reported a credit book of $ 979 million, which includes credit cards and purchases now, pay later products – They provided a license for UK in the UK with restrictions in July last year.

The license was obtained after a long-lasting three-year process with UK regulators, represented a turning point, which will allow the revolution to roll over for lending products in its home market. The revolution said he internally tested mortgages.

The company also wants to expand its ranks of subscribers. Revenue from compensation in Premium Subscription Plans offered by Perks, increased 74 percent of the year to 423 million pounds. He also targeted corporate buyers, and now business is offering about 15 percent of income.