Revolut’s $115 Billion Valuation Tests Its Stablecoin Strategy

Revolut’s $115 billion valuation has increased the paper value of CEO Nik Storonsky’s stake. The privately held fintech distributes stablecoins issued by partners rather than issuing and managing the tokens itself.

The company reached the valuation in a secondary share sale in November 2026, 53% above the $75 billion valuation set a year earlier. Storonsky owned about 29% of Revolut as of December 2025, although the value of his holdings depends on share terms, incentives and private-market prices.

A 2026 billionaire ranking estimated Storonsky’s net worth at $18.8 billion before the latest sale. His compensation package could provide up to an additional 10% of Revolut’s shares if the company reaches a $200 billion valuation. These figures are estimates because Revolut is private and a secondary-sale price does not set the same value as a public-market price.

Revolut’s 2025 results show a business that earns most of its revenue from fees. Revenue rose 46% to £4.5 billion, while profit before tax increased 57% to £1.7 billion. Retail customers reached 68.3 million, customer balances rose 66% to £50.2 billion and transaction volume reached £1.3 trillion.

Fee income totaled about £3.4 billion in 2025, compared with £974 million from interest income. Revenue per retail customer was about £66, and average customer balances were about £735. These figures include business activity and are approximate measures of customer use.

In Europe, Revolut began a phased rollout of EURR, a euro-denominated stablecoin, on Aug. 26, 2026. The first phase covered selected customers in Denmark, Poland and Portugal. Bridge Building S.A., a Luxembourg company owned by Stripe’s Bridge, issues the token, while Revolut distributes it through its digital-assets business. Revolut also withdrew Tether’s USDT from the European Economic Area.

In the United States, a conditional approval for Revolut Bank US permits the bank to offer Revolut-branded stablecoins through a third-party issuer. The bank would not issue the tokens or manage their reserves. Its application projects digital-asset revenue at less than 2% of revenue during its first three years. Revolut is targeting a launch in the first half of 2027, subject to further approvals and insurance arrangements.

In the United Kingdom, Revolut is exploring a sterling-denominated stablecoin in a regulatory sandbox. The proposed token would maintain a one-to-one value with the pound and be backed by sterling reserve assets. The sandbox information does not identify an issuer, so the structure of the British product has not been confirmed.

Under the partner model, Revolut retains the customer relationship and app access and may earn transaction and foreign-exchange fees. The licensed partner handles token issuance, reserves and redemption. Income from reserve assets would primarily go to the issuer.

Storonsky co-founded Revolut with chief technology officer Vlad Yatsenko after working as an equity derivatives trader at Lehman Brothers and Credit Suisse. The app launched publicly in July 2015 with low-cost foreign exchange and multi-currency payments. Revolut later added banking services and received a full UK banking licence on March 11, 2026.

The company has expanded its use of artificial intelligence. In a November 2026 podcast, Storonsky described AI systems operating across almost every part of Revolut and outlined plans to reduce the need for additional hiring. He said team sizes had not yet fallen and that he hoped Revolut could pursue an initial public offering in 2028, subject to market conditions.