Abu Dhabi Institutional Giants Unite to Launch Dirham-Backed Stablecoin
If approved by United Arab Emirates regulators, the dirham-backed stablecoin—regulated by the central bank—will run on the ADI blockchain.
Record Profit Surge: Revolut’s annual profits doubled to $1.3 billion, highlighting the company’s rapid financial growth and successful expansion strategy.
Crypto Trading Comeback: A significant boost came from a resurgence in cryptocurrency trading, with crypto-related revenues jumping 120% year-over-year.
User Base Expansion: The fintech added over 12 million users in 2024, bringing its total to more than 45 million globally—driven by demand for all-in-one digital banking and investing tools.
Revolut, one of the world’s fastest-growing fintech firms, has reported a staggering jump in annual profits, doubling its earnings to $1.3 billion.
On April 24 2025, Revolut’s report revealed that its profit soared from 438 million pounds in 2023, while revenue jumped to 3.1 billion pounds from 1.8 billion pounds. This milestone comes amid a sharp rise in user acquisition, expanding financial services, and a renewed surge in cryptocurrency trading, bolstering the company’s bottom line.
Founded in 2015, the UK-based Neobank has evolved from a travel card provider into a fully fledged digital banking and investment platform. In 2024, it capitalised on renewed market confidence in digital assets and demand for user-friendly financial services. It was in a prime position to benefit from the ongoing fintech and crypto revolution.
Revolut’s 2024 success story starts with its rapidly growing user base. The platform added over 12 million new users during the year, pushing its total global customer count to over 45 million. A strategic push into emerging markets and enhanced product offerings, including commission-free stock trading and high-yield savings, helped fuel this impressive adoption rate.
In addition to personal finance solutions, Revolut has aggressively expanded its business accounts, catering to startups and SMEs with low-fee, multi-currency tools. Revenue from subscriptions—such as its Premium and Metal plans—also saw double-digit growth, indicating strong user engagement and retention. CEO Nik Storonsky emphasised Revolut’s commitment to broadening financial inclusion: “We’ve focused on building a one-stop app that handles everything from everyday banking to investing and cross-border payments. Our user growth shows we’re hitting the mark.”
Perhaps the most impactful tailwind in Revolut’s latest earnings report was the resurgence of cryptocurrency trading. After a relatively muted 2022 and 2023 due to regulatory uncertainty and market stagnation, 2024 brought renewed retail interest in digital assets, driven by the Bitcoin halving cycle and bullish momentum across altcoins. Revolut’s in-app crypto exchange, which allows users to trade over 100 digital currencies, saw record transaction volumes.
The company reported a 120% increase in crypto-related revenue year-over-year, outpacing its core banking products. The firm’s seamless integration of crypto features—such as real-time price alerts, staking services, and dollar-cost averaging tools—made it a go-to platform for retail investors eager to re-enter the market. Revolut’s strategy of combining banking, investing, and crypto in one app appears to be paying off. Despite ongoing scrutiny from financial watchdogs, Revolut has proactively worked to ensure compliance, securing crypto licenses in several European jurisdictions and enhancing its transparency practices. This forward-thinking approach helped it gain a competitive edge over slower-moving rivals.
With net profits reaching $1.3 billion from roughly $630 million the previous year, Revolut has firmly established itself as a fintech leader with a sustainable business model. The doubling of profits reflects operational efficiency and successful revenue stream diversification. Operating margins improved significantly, thanks partly to automation, improved customer onboarding, and tight cost control.
The company has hinted at a possible IPO shortly, which could be buoyed by investor optimism surrounding its strong growth fundamentals and global expansion plans. Revolut plans to deepen its offerings in the crypto and AI-powered finance sectors while expanding in Latin America and Southeast Asia. Analysts suggest that as long as the platform maintains its innovative edge and regulatory alignment, its growth trajectory will likely continue. “We’re building a global financial super-app, and this is just the beginning,” said Storonsky.
Revolut’s performance in 2024 has not only reinvigorated confidence in the fintech sector but also demonstrated the powerful doubt between user-centric design, crypto integration, and agile product development. If current trends persist, the company may soon rival traditional banks in scale and scope.
If approved by United Arab Emirates regulators, the dirham-backed stablecoin—regulated by the central bank—will run on the ADI blockchain.
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