Does Revolut Executive move on to found crypto start up, quitting the job?

British Fintech company Revolut is known to offer banking services in the region, as of 2022 the firm stood at $33 billion in valuation

Reports came out stating Chief Revenue officer at Revolut, Alan Chang’s leaving the UK fintech company. Reasons although not disclosed yet but assumed as to follow his plans to raise funds for a new crypto initiative. Bloomberg reported this asking a spokesperson of the firm who confirmed that Alan is about to leave the firm.

Alan Chan who joined Revolute in 2015, was among one of the early employees as he was the fifth person joining the firm. Since then he remained to be one of the executives of Revolute for almost seven years. Now it is known that the Chief revenue officer is leaving the fintech firm. 

According to the Bloomberg report which was considered an anonymous source it revealed that Alan is looking to raise funds worth  $100 million. By all this, the assumptions make it clear that the executive is working on developing his own crypto startup. Another fact is that he has reportedly invested his money somewhere around millions of dollars in unmentioned sources. 

Considering earlier reports that were saying that Alan Chang is planning to develop his new cryptocurrency venture. In his new project, Charles Orr is also reported to join, who also a former Revolut employee left the firm in 2020. Chang himself described while talking about his initiative that it would be an intersection between renewable energy and Web 3.

Alan Chang did not reveal much about his venture other than stating that he wants to build one of the largest economies in the world in the next 10 years along with solving climate change. While further investigations led to UK filings that revealed about Chang is listed in a new company as a director that followed his resignation from Revolut’s unit in which he had the same position back in February 2022. 

Revolute is UK’s financial technology company that tends to offer banking services to organizations and individuals. Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko and is currently headquartered in London. In 2021, it raised more than $800 million in a funding round led by Tiger Global and SoftBank. As of now, the Fintech service provider firm is standing at a valuation of almost $33 billion. 

A few months back the fintech firm announced its plan to launch a crypto token. In September 2021, reports considering sources said that the crypto token would go live in European markets first and then to other regions. Although the project also needs to seek approval from FCA that is the UK Financial Conduct Authority. 

However crypto is nothing new for Revolut as it has been trading cryptocurrencies including Bitcoin and other altcoins since 2017. Till April 2021, tokens including Uniswap (UNI), Cardano (ADA), Loopring (LRC), Synthetic (SNX), and others among 11 new tones were on the platform. 

ALSO READ: Princeton Creates The Cryptocurrencies Studies Programme With The Help Of $20 Million Via Cryptocurrency Alumni

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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