FNG Exclusive… FNG has learned that Costas Michael, CEO of UK neobank Revolut’s Cyprus based, MiCA-licensed entity Revolut Digital Assets (Europe) Ltd has stepped down from his role. He will remain with the business as a Board Advisor.

Costas Michael joined Revolut in 2022 after serving for four years as Managing Director of Poland based CFDs broker XTB’s Cyprus operation XTB Ltd. He was also previously with trading tech provider Leverate, and online broker TFI Markets.

Under Costas’ leadership, Revolut Digital Assets Europe received its CySEC MiCA license last year as a crypto asset entity, and then scaled the business to serve retail and business clients across all 27 EEA jurisdictions.

Costas posted the following note on LinkedIn regarding his decision to step down as CEO.

Today I’m sharing a personal update. After more than four years as founding CEO of Revolut Digital Assets Europe, I’m stepping down from my day-to-day executive role. I’ll stay engaged with the business as a Board Advisor, but this marks the end of my time running it.

Leading the company from incorporation through licensing and MiCA (Markets in Crypto-Assets Regulation) authorisation has been one of the most demanding and rewarding chapters of my career. The business became responsible for facilitating Revolut’s crypto services across the EEA and played a central role in the growth of Revolut’s global crypto operation.

I’m proud of the regulatory, operational and organisational foundations we built across compliance, risk, operations, product and treasury to support that growth across multiple European markets. None of this would have been possible without exceptional colleagues, including Kyriaki Dimitriou, Mateusz Pek, Christos Drakos, Sonia Varnava, to name just a few of the many who made this possible.

To my colleagues, leadership team and partners across Revolut: thank you for your trust, dedication and resilience. What we built was a collective effort, and I’m grateful to everyone who contributed.

I’m pleased to continue supporting Revolut Digital Assets Europe as a Board Advisor and to stay close to the business as the team enters its next chapter. I have enormous respect for what we built together and full confidence in the people taking it forward. I remain a passionate Revoluter, and I expect Revolut to continue growing extremely well in the years ahead.

Grateful for this chapter, and excited for what lies ahead.