Revolut has appointed Georgios Vasiliou as chief executive of its Cyprus digital assets division, replacing founding CEO Costas Michael who departed two months ago and will continue as a board advisor. Vasiliou previously led Trading.com, the sister brand of major retail broker XM, and brings considerable risk management credentials from both organisations where he held senior risk positions over more than a decade.
The appointment underscores Revolut’s continued emphasis on placing risk specialists at the helm of its crypto operations as European regulatory requirements intensify. The fintech has consistently recruited senior figures from Cyprus’s established brokerage sector, tapping into deep regional expertise in financial risk and compliance management. This strategy appears designed to ensure its crypto expansion remains anchored in robust operational controls.
The timing is significant given the evolving MiCA landscape. The EU’s Markets in Crypto-Assets regulation ended its grandfathering period in July, requiring firms to operate under full compliance with the new unified framework. Revolut’s Cyprus entity secured early Crypto Asset Service Provider authorisation from CySEC and now operates within MiCA’s demanding regime. With the EU currently reviewing the regulation, firms offering digital asset services face heightened scrutiny around governance and risk frameworks.
For FX brokers and fintech firms considering crypto expansion in Europe, this move highlights the regulatory premium now placed on institutional-grade risk management and the competitive advantage of leadership with deep compliance experience in regulated markets.
FXnCO Insight
As MiCA matures, crypto licence holders that lack traditional financial services risk infrastructure will find themselves at a growing disadvantage against competitors who prioritise operational discipline over growth velocity.
Source: Finance Magnates