Digital bank Revolut has reportedly achieved significant milestones that underscore its steady growth and strategic vision.
Revolut has surpassed one million retail customers in Switzerland, cementing its position as a digital banking solution in the European country.
Revolut is also setting its sights on a new frontier: becoming the world’s top market maker, a move that would probably place it in direct competition with Wall Street firms like Jane Street and Citadel Securities (but this may just be the start and too early to make such comparisons for now at least).
According to a report from Swissinfo.ch on April 3, 2025, Revolut’s Swiss client base has crossed the one-million mark, a testament to its growth driven largely by word-of-mouth and referrals rather than extensive marketing campaigns.
This milestone means that approximately one in six Swiss residents aged 20 to 64 now uses Revolut, highlighting its appeal as a flexible, user-friendly financial platform.
The company attributes this achievement to its tailored offerings, such as Swiss virtual IBANs, QR-code payments, and access to investment products like equities, ETFs, and money market instruments.
Julian Biegmann, General Manager for Switzerland, emphasized the value Revolut provides, stating:
“Reaching one million private clients in Switzerland is a testament to the value we provide our customers.”
Revolut’s growth in Switzerland is not just about numbers—it’s also about usage.
The company reported a 33% increase in transaction volume in 2024, with 53.1 million transactions processed in the first quarter of 2025 alone, nearly double the amount from the same period the previous year.
This surge reflects Revolut’s evolution from a travel-friendly payment app to a daily financial tool for Swiss users, covering everything from groceries to international transfers.
Looking ahead, Revolut aims to add at least 250,000 new Swiss clients annually, further solidifying its foothold in this key financial hub.
While Revolut strengthens its retail banking presence, it is also quietly building a trading desk with aspirations to become the “world’s leading market maker,” according to an update from Financial News London.
This plan involves expanding its financial services to facilitate large-scale trading, positioning itself as a central player in global markets—a domain traditionally dominated by established firms like Jane Street and Citadel Securities.
Market making involves providing liquidity by simultaneously offering to buy and sell financial instruments, profiting from the bid-ask spread.
However, this goal has understandably sparked skepticism.
A Wall Street consultant dismissed the likelihood of Revolut achieving this, saying, “Never going to happen.”
Critics point to the complexity and capital requirements of market making, which demand sophisticated infrastructure and risk management—areas where Revolut seemingly lacks the deep experience of its competitors.
Still, Revolut’s track record of disruption, from currency exchange to crypto trading, suggests it shouldn’t be underestimated.
With over 50 million global customers and a $48 billion valuation, Revolut is leveraging its tech stack and customer-centric approach to pursue both retail expansion and institutional clients.