Chang: Crypto and trading revenues offset Revolut's COVID interchange collapse
Alan Chang · Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings · Jan 5, 2026 · at 13:14
Alan Chang was an early executive at Revolut and is currently the co-founder and CEO of Fuse Energy. He describes how product diversification protected Revolut's business during pandemic lockdowns.
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“During the COVID lockdowns the interchange revenue, so, you know, revenue from people spending on cards, especially abroad, went basically near zero, right? However there was a lot of stimulus checks, right? From the COVID times and the stock market was booming, right? And the crypto market was booming. So whilst the exchange revenue went down, the, you know, trading revenue went off. So it kind of offset each other.”
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