[LONDON] Revolut plans to add UK stocks to its trading platform in the coming days as some investors look to diversify away from US equities in the aftermath of Donald Trump’s plans to raise tariffs on trading partners around the world.
British blue-chips including Rolls Royce, Marks & Spencer Group and London Stock Exchange Group will be among the equities offered, people familiar with the matter said, asking not to be named discussing non-public information. Revolut gained its UK trading licence in November 2024 and already offers US and European equities.
The firm currently has more than 800,000 UK trading customers. Tax-free Individual Savings Accounts are also set to be introduced soon, the people said.
Markets globally have seesawed during Trump’s tariff barrage, with the FTSE 100 index losing almost 8 per cent since the start of April and the S&P 500 declining almost 7 per cent as price volatility surged.
“We are including UK stocks in our offering as we’ve seen interest from our UK customers to get exposure to the local economy and diversify their portfolio further.” Yana Shkrebenkova, chief executive of wealth and trading UK at Revolut, said in a statement.
“Despite the uncertainty in the markets in recent days, the downturn in the UK did not trigger widespread panic selling among our customers,” she said. “Instead, our data shows that most opted to hold their positions, demonstrating a preference to avoid immediate losses and ride out the storm.”
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The top five most-bought stocks by Revolut’s UK customers between Apr 4 and 8 were Nvidia, Apple, Tesla, Amazon.com and Alphabet, the firm said. On Wednesday (Apr 10), the day the Trump administration announced a 90-day pause of tariffs, Revolut saw a 92 per cent increase in trading activity in the UK.
Revolut is expected to publish its 2024 accounts this month. The firm is set to report roughly US$1 billion in profit before tax for 2024, Bloomberg previously reported. That would be a record and up from US$545 million a year earlier.
The firm’s new offering could be a fillip for the UK government, which is looking for ways to stoke more interest in domestic equities, even as platforms such as Revolut and Robinhood broaden investors’ access to global markets and derivatives.
Founded in 2015, Revolut was valued last year at US$45 billion in a round of investment involving a secondary share sale. The company received a British banking licence from regulators in July, which enables the fintech to provide overdrafts, loans and savings products to its customers across the UK. BLOOMBERG
