Revolut Cyprus CEO Costas Michael outlined the fintech’s ambitions for crypto, payments, and strategic growth at iFX EXPO International 2025 in an interview with Finance Magnates’ Jeff Patterson.

Michael said Revolut’s foothold in Cyprus is growing rapidly, with the firm positioning the island as both a key user market and a launchpad for broader European crypto ambitions. He pointed to strong customer adoption and regulatory clarity as catalysts for expansion.

“Cyprus is very appealed through the Revolut product,” Michael said. “It provides a more efficient, faster, and cheaper solution compared to traditional banking—and this resonates with users here.”

Revolut, which now serves over 55 million clients globally, has added 15 million users in the past year alone. Michael noted that Cyprus is “slightly above” the firm’s global average in terms of penetration.

Strategic Moves Beyond Retail

While Revolut is widely known for its consumer-facing app, Michael highlighted the company’s growing involvement in the business and payments infrastructure space—particularly for Cyprus-based CFD providers.

“We’re engaging with the sector,” he said. “It’s about understanding where their friction points are and resolving them with the products we offer.”

This expansion is being driven not just by Revolut’s core business, but through affiliated entities focused on tailored financial services for corporates.

Crypto Expansion Under CASP License

Revolut holds a Crypto-Asset Services Provider license in Cyprus, allowing it to operate under the EU’s developing regulatory framework. Under this license, the firm already offers crypto trading, staking, learning tools, and wallet-based remittances. Most recently, Revolut launched Revolut X, a web-based platform targeting advanced crypto traders.

“It offers analytics and a more customized trading experience,” Michael said, adding that the product is already gaining traction.

While tight-lipped on unreleased features, Michael hinted at further innovations aligned with Revolut’s “vertical” global crypto strategy, aiming to standardize offerings across jurisdictions.

You may find it interesting at FinanceMagnates.com: “The Knee on Crypto's Neck is Lifting”: Hidden Road's Higgins on MiCA, Industry's Future.

MiCA Regulation Brings Legitimacy and Opportunities

The European Union’s Markets in Crypto-Assets Regulation, which began applying to crypto service providers this year, featured prominently in the discussion. Michael called it “very positive” for the industry.

“It helps the industry normalize and be recognized similarly to a MiFID license across Europe,” he said. “It secures the product in a way that makes clients more comfortable—and helps banks feel more confident working with crypto firms.”

The regulation’s harmonized cross-border framework is expected to give regulated players like Revolut a competitive edge, while easing institutional concerns over crypto’s compliance risks.

Looking Ahead: Stablecoins and Yield Products in Focus

When asked about the next frontier for crypto adoption, Michael pointed to stablecoins and yield-generating products as likely growth areas.

“We’ll see bigger firms utilizing crypto—whether for treasury, seamless payments, or cross-border transactions,” he said. He also expects growing interest in staking and yield opportunities, predicting that these services will gain wider traction as mainstream finance and crypto continue to converge.

Despite the unpredictable nature of the crypto market, Michael’s outlook remained confident: “We’ve already seen this with other companies around the world—using crypto to move funds faster and cheaper.”