Revolut wants to diversify its activities (Crypto, DeFi, real estate, etc.), its CEO says so

Revolut is undoubtedly the neobank that has moved the most in recent times by strongly developing its activities, even beyond the banking sector. A recent interview with its CEO Nik Storonsky tells us more about the future of the platform.

The project of “great app” so desired by Revolut is taking shape little by little. The British neobank is ambitious and intends to invest in several areas and products to compete with an entire sector beyond even banking, as we had already seen with Stays. It was in an interview with Reuters that Nik Storonsky, CEO and co-founder of Revolut, unveiled the banking platform’s plans in the short and medium term to move closer to a European-style WeChat model.

Towards a development of crypto…

Revolut is one of these neobanks to have bet massively on cryptocurrencies within its ecosystem and intends to go even further in this area. It is already possible to invest and pay for purchases in virtual currencies, and Revolut wants to activate fund transfers in a few minutes and at no cost between users, regardless of their location and in a decentralized way (DeFi).

This is already the case for the bank’s American customers who can send currencies to accounts based in Mexico, Chile, Brazil and South Korea in less than 30 minutes.

Nik Storonsky and Revolut are well aware that there is still important work to be done before “dbecome a one-stop-shop for financial services“. He even adds:

For example… decentralized wallets, allowing cryptocurrency deposits, withdrawals and staking, lending — that’s another piece we’re missing and working on.

… and mortgages?

Revolut’s ambitions go far, to the point of drawing inspiration from the banking products of traditional establishments while facilitating their access to as many people as possible. In this same interview with Reuters, Nik Storonsky said he wanted to develop home loans within his own ecosystem. He justifies this desire:

Home loans are a fairly large part of consumers’ financial lives

For the moment, no details have yet leaked on the subject apart from the statements of the CEO of the group. It is easy to imagine a system similar to what online banks like Boursorama can offer that offer this type of product.

To follow us, we invite you to download our Android and iOS application. You can read our articles, files, and watch our latest YouTube videos.

Leave a Comment