Costas Michael, the founding CEO of Revolut’s Cyprus-based digital assets division overseeing crypto services across the European Economic Area, is departing his executive role but will remain as a board advisor, according to Finance Magnates. His future plans have not been disclosed and Michael has declined to comment on the transition.
During his four-year tenure, Michael established Revolut’s Cyprus operation and secured crucial regulatory approvals including Cyprus’s first Crypto Asset Service Provider licence and subsequently a Markets in Crypto-Assets Regulation licence, which became mandatory for crypto service provision throughout the EU bloc. He also drove expansion efforts including launching Revolut’s Italian branch and registering entities in the Netherlands, Spain, and Croatia.
Michael brings substantial sector experience having previously served as Managing Director of XTB’s Cyprus division for over four years and spending more than six years at broker technology provider Leverate’s Cyprus office. This background in both traditional and crypto financial services helped position Revolut’s digital asset offering.
The leadership change comes as Revolut expands beyond crypto into CFD trading through its partnership with CMC Markets, having recently rolled out CFD products across twenty-nine countries, predominantly in Europe, following initial trials in three markets.
The departure represents a significant personnel shift for a fintech increasingly competing in spaces traditionally dominated by established brokers, with Cyprus remaining a key jurisdiction for both crypto and derivatives licensing.
FXnCO Insight
Michael’s exit amid Revolut’s aggressive CFD expansion signals potential strategic recalibration as the fintech pivots from pure crypto positioning toward multi-product competition with traditional brokers across European markets.
Source: Finance Magnates