Revolut teased a physical crypto debit card on Monday, but the casual tweet masks a wider strategy as the British fintech pushes deeper into business banking, leveraged trading, and private wealth across its 70-million-user platform.
The card tease arrived days after Revolut won fresh Financial Conduct Authority (FCA) permissions and CEO Nik Storonsky designated business banking as the company’s top internal priority.
Crypto Card Tease Hides a Larger Push
Revolut’s official account said it might have released their first ever physical crypto card, a tongue-in-cheek line about a product the company has actually offered since 2024.
The card links to a user’s crypto balance and converts holdings to fiat at real-time rates when spent. Revolut keeps assets in custody, and balances are not protected under UK deposit-insurance schemes.
The informal tone fits a busier product cycle. Trust Wallet recently added Revolut Pay for instant token purchases.
The firm also partnered with Mastercard on a US card rollout, and Cyprus regulators issued an authorization valid across the European bloc.
FCA Approval, Wealth, and a New “P0”
On May 14, the FCA granted Revolut Trading a Variation of Permissions covering leveraged investment products, discretionary portfolio management, and advisory services.
Victoria Laffey, head of operations at Revolut Trading, said the clearance brings investment, advisory, and portfolio management under one Revolut app.
Revolut also plans to launch a UK private bank this summer with a £500,000 deposit threshold, aimed at mass-affluent clients who sit between retail apps and traditional houses such as Coutts, which recently lifted its minimum to £3 million.
An allegedly leaked Slack memo from Storonsky made business banking the firm’s “P0” priority and offered every employee £1,000 ($1,300) for each new corporate client they refer.
Revolut Business holds about 767,000 customers, up 33% year on year, and contributes roughly 16% of group revenue.
From 2027, the company plans to roll out business banking alongside its retail app in every new market it enters, a shift that could pressure incumbents already losing share to fintech growth.
Storonsky has guided an initial public offering (IPO) no earlier than 2028, targeting a $150 billion to $200 billion valuation.
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The next test is whether the card tease, the wealth license, and the B2B drive translate into the cross-sell engine retail banks have long struggled to build. For Revolut’s 70 million users, the answer will arrive in pieces, one product card at a time.
