Online Banking and Crypto Investments Surge in Sweden
Online banking and crypto services experience significant growth in Sweden as new products and user expansions emerge.
- • Revolut reports 46% revenue growth in Q2 2025 spending over £1 billion.
- • Company plans to open a new office in Stockholm for Nordic operations.
- • CoinShares introduces physically-backed XBT products for altcoins.
- • Swedes can now access cryptocurrency investments through tax-efficient ISK accounts.
Key details
The growth of online banking and digital investment options is accelerating in Sweden, highlighted by significant developments from major players in the market. British banking platform Revolut reported a remarkable 46% growth in revenue for Q2 2025, reaching £1.01 billion as its user base in Sweden nears 1 million. This surge in revenue is coupled with plans for a new office in Stockholm aimed at launching local services such as salary accounts and mortgages, with the hiring of 10-20 professionals in banking operations expected before the summer of 2026. Revolut, currently valued at $75 billion, is also seeking additional financing to support this expansion.
In the cryptocurrency space, 2025 has seen intense market activity, with Bitcoin achieving an all-time high. Sweden is emerging as a leader in regulated cryptocurrency products, with 33% of local crypto investors utilizing Exchange Traded Products (ETPs) for gaining exposure to digital assets. CoinShares, a prominent name in this arena, is expanding its offerings by introducing new physically-backed XBT products for various digital currencies, including altcoins like Ethereum and Solana, which are gaining traction due to their potential for higher returns. CoinShares’ products listed on Nasdaq Stockholm enhance liquidity, while also being compatible with Sweden's investment savings accounts (ISK), providing tax-efficient investment pathways for Swedish investors.
As these trends evolve, both the online banking and cryptocurrency sectors reflect increased investor interest and the maturation of financing options available to consumers in Sweden, underlining the ongoing digital transformation of financial services in the country.