Alan Chang, Revolut's chief revenue officer, is reportedly leaving the British fintech company with plans to raise millions of dollars for a new cryptocurrency initiative.

100 million in funding for new cryptocurrency ventures

According to Bloomberg, Chang is leaving Revolut after nearly seven years as an executive at the company, as a company spokesman said. He joined Revolut as its fifth employee in 2015.

Chang is developing a cryptocurrency startup despite the fact that the chief revenue officer is leaving the fintech company. As anonymous sources told Bloomberg, the executive is looking to raise $100 million. In the meantime, he has reportedly invested his money, which unnamed sources put at millions of dollars.

An earlier report by Business Insider said Chang is planning a new cryptocurrency venture with former Revolut employee Charles Orr, who leaves the company in 2020, describing the plan as "a cross between renewable energy and Web3 Chang described the plan as "a crossroads between renewable energy and Web3.

“I want to build the world’s largest economy in the next 10 years. I also want to solve the problem of climate change.”

However, the executive did not provide further details about the joint venture. Meanwhile, U.K. filings show Chang was listed as a director of a new company after resigning from the same position at a division of Revolut in February 2022.

Revolut's Cryptocurrency Efforts

The Chang removal comes a few months after Revolut announced its intention to launch cryptocurrency tokens. As CryptoPotato reported in September 2021, sources said the proposed cryptocurrency token would first go live in European markets and other non-US regions.

However, the scheme requires approval from the UK Financial Conduct Authority (FCA).

The London-based fintech company is no newcomer to the cryptocurrency industry. It first announced support for bitcoin trading back in 2017, and has since shelved several other cryptocurrencies.

In April 2021, 11 new tokens will be available for trading on the Revolut platform. Some of them include Uniswap (UNI), Cardano (ADA), Loopring (LRC) and Synthetic (SNX).

Revolut also became the UK's most valuable fintech company after raising $800 million in a funding round led by SoftBank and Tiger Global in July 2021. The new capital injection soared Revolut's valuation to $33 billion.

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