Revolut just revealed a $1.4 billion pre-tax profit for 2024, like it's no big deal.

The London-based fintech's profits surged 149% year-over-year, making traditional banks appear to be still using abacuses.

Behind this money printer? Crypto trading volumes that would make even Sam Bankman-Fried jealous (minus the fraud, hopefully).

The Crypto Cash Cow

Revolut's wealth division experienced explosive growth, with a 298% year-over-year increase, generating $647 million from crypto trading, commodities, and savings products.

The company launched Revolut X – a standalone crypto exchange with over 100 tokens that spans 30 European markets.

While Coinbase and Binance were battling regulators, Revolut quietly emerged as Europe's crypto gateway for the masses.

They're even about to launch their stablecoin, which should prompt the folks at Tether to look over their shoulders for once.

Numbers That Don't Even Seem Real

User count shot up 38% to 52.5 million – that's 15 million new customers in a single year.

Customer balances jumped 66% to $38 billion, which is starting to look like actual bank territory.

Transaction volumes reached $1.3 trillion, a 52% increase from last year, indicating that people are using this service, not just downloading the app.

Their net profit margin reached 26%, which makes traditional banks, with their fancy marble lobbies, look like they're running charity operations.

The Banking Evolution

Revolut finally secured that elusive UK banking license after years of regulatory foreplay.

They're about to roll out mortgages, credit cards, and buy-now-pay-later products, as if they're trying to speed up the entire financial sector.

This is their fourth consecutive year of profitability, which should silence everyone who has called fintech companies' cash-burning machines."

CEO Nik Storonsky is discussing "technology-driven operating models" while traditional banks are still struggling to figure out why their websites crash every other weekend.

Global Domination Loading...

Revolut isn't slowing down – they're expanding to Mexico and India in 2025 with a goal of hitting 100 million daily active users.

They're building a rewards credit card tied to RevPoints and a fully digital mortgage offering that won't require you to sign 500 papers in person.

Despite having to bow out of the US crypto market due to regulatory hurdles, they are doubling down on crypto everywhere else.

Their move into DeFi data publishing with Pyth Network proves they're not just dipping their toes in crypto – they're diving headfirst into the deep end.

The Revolut Moment

Revolut has just proven that crypto trading can still be a money printer when done right, even after all the industry drama of the past few years.

The line between fintech and crypto is blurred mainly at this point – the most successful companies are those that embrace both.

Traditional banks are watching a fintech competitor hit $1.4 billion in profit, while they are still charging people $35 for overdraft fees.

This is an excellent year for Revolut – and a glimpse of the future where digital finance is king, with crypto right at the center of it.