Revolut Doubles Down on Crypto With Staking Rewards — But Not in US

Long-time crypto fan Revolut is now offering staking yield on four tokens across the UK and select European countries

article-image

Shutterstock.com/Victor Maschek, modified by Blockworks

share

British neobank Revolut is pushing ahead with its crypto offerings by giving its customers across the UK and Europe the ability to earn staking rewards.

Customers in supported countries can now earn up to 11.65% annual percentage yield (APY), paid in the respective tokens, on four cryptocurrencies: ether (ETH), cardano (ADA), polkadot (DOT) and tezos (XTZ), Revolut said in a statement Tuesday.

Revolut is currently offering the most yield on DOT. Staking the token directly to the network as a Polkadot validator generates around 14.43% APY, which means staking DOT via Revolut leaves nearly 3% yield on the table.

Funds are to be held with “trusted custodians” while the platform will manage a user’s private keys. Blockworks has reached out to Revolut to learn more. 

Revolut’s staking rewards rollout comes as the platform takes another shot at tapping potential growth from the digital asset sector. The fintech unicorn first dabbled in crypto by allowing users to acquire BTC, ETH and litecoin (LTC) back in 2017. 

Revolut has since expanded its list of supported digital assets significantly, now advertising more than 90 tokens. It also enabled bitcoin withdrawals to personal wallets in 2021.

Revolut CEO Nikolay Storonsky said in November that while crypto had contributed 30% to 35% of the firm’s total revenue in 2021, that figure had fallen to around 5% last year.

Still, Revolut’s push for diversifying its digital asset revenue streams echoes sentiment shared by Coinbase CEO Brian Armstrong last August.

At the time, Armstrong said his company would shift the way it drums up dollars, which has mostly hinged on fees taken from trading activity when times are good.

Revolut offers a number of products and services including banking, brokerage for traditional equities and digital assets. The firm says it serves 25 million customers across 200 countries, leveraging 29 in-app fiat currencies.

Revolut has raised a total of $1.8 billion in funding over 19 rounds and is valued at roughly $33 billion, Pitchbook data shows.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

Research Report Templates.png

Research

An overview of the Base Ecosystem, with a focus on market leaders.

article-image

Although bitcoin hitting $120k by year’s end is looking unlikely

article-image

About 270 million HYPE has been claimed, valued around $7.6 billion

article-image

Stanford professors David Mazières and Dan Boneh will lead the lab alongside a cohort of graduate student researchers

article-image

With more companies holding BTC, bitcoin yielding strategies could become “a new corporate finance norm,” CoinShares posed

article-image

The proposal comes after Polygon governance considered a controversial use of bridged liquidity for yield

article-image

Can the community balance its decentralized ethos with the need for inclusivity and constructive debate?