Revolut is reportedly preparing to launch two new products in the coming days, continuing its drive to disrupt the traditional financial sector.
According to Bloomberg, the London-based fintech plans to add UK stocks to its trading platform, reacting to growing demand from traders facing ongoing turbulence in the US market.
Yana Shkrebenkova, CEO of Wealth and Trading UK at Revolut, said: “We are including UK stocks in our offering as we’ve seen interest from our UK customers to get exposure to the local economy and diversify their portfolio further.
Investors are seeking to diversify their portfolios as President Donald Trump’s tariff hikes on major trading partners have triggered significant disruption in US markets. The volatility has already led to Klarna pausing its planned US IPO last week.
Commenting on customer trends, Shkrebenkova added: “Despite the uncertainty in the markets in recent days, the downturn in the UK did not trigger widespread panic selling among our customers.
“Instead, our data shows that most opted to hold their positions, demonstrating a preference to avoid immediate losses and ride out the storm.”
This move will likely be welcomed by the UK government, which is eager to boost investment as part of its broader efforts to revitalise the economy.
It could also signal a shift in the ongoing tug of war between London and New York, with the UK having lost ground to the US in recent months, as seen with IPOs like Klarna. Meanwhile, other fintech giants, including Revolut and Monzo, are still weighing up their options for a potential listing in the US.
A new card challenge
Elsewhere, Revolut is setting its sights on launching a points-based credit card. According to Sifted, the fintech is in the early stages of developing the product, which would build on its existing rewards programme, RevPoints.
Currently, customers earn RevPoints through purchases made on their debit cards. However, this planned credit card launch would see Revolut enter a market that’s becoming increasingly competitive, with several new challengers emerging.
Despite the rising competition, American Express remains a dominant force in the space and will undoubtedly serve as the benchmark for success. Revolut, however, hopes to disrupt the credit card market just as it has with traditional banking.
A major factor driving Revolut’s ambitions is the steady growth of card spending in the UK, which continues to rise year after year with no signs of slowing down.
