During a recent visit to Lithuania, we uncovered a fascinating trend: former employees of leading startups like Vinted and Revolut are pioneering new ventures. One such innovator is Nick Denisenko, a former Revolut engineer, now at the helm of Brighty—a company revolutionizing the bridge between cryptocurrency and everyday finance.
In December 2024, Brighty secured a $10 million investment, bringing its total funding to $16.3 million. While its valuation remains undisclosed, Brighty’s mission is clear: to make crypto transactions as seamless as traditional banking. Operating in a rapidly expanding market, the global fintech industry is projected to hit $124.3 billion by 2025, with crypto adoption growing due to clearer regulations and broader use cases. Brighty is strategically positioning itself within this evolving landscape, focusing on freelancers, digital nomads, and cross-border payments—segments often overlooked by conventional financial institutions.
Simplifying DeFi for Everyday Users
Founded in Switzerland in 2020, Brighty is built on Denisenko’s experience at Revolut, where he mastered the art of user-friendly financial products. Identifying a gap in the market, he saw an opportunity to simplify decentralized finance (DeFi) for mainstream adoption.
Denisenko shared: “Crypto remittances are booming. It’s not just for investment anymore—it’s being used for salaries and daily spending. However, existing DeFi platforms are too complex for the average person.”
Brighty’s solution? A hybrid finance platform that seamlessly integrates fiat and crypto transactions. The company’s core engineering team, primarily composed of Revolut alumni, prioritizes intuitive UX/UI design, making crypto transactions as straightforward as traditional banking.
While Brighty’s model shares similarities with Coinbase and Chime, it differentiates itself by catering to digital freelancers and remote workers who need efficient global payment solutions. Education is another key pillar: “We don’t just provide a service; we guide users on how to bridge fiat and crypto effortlessly,” Denisenko emphasized.
MiCA and the Future of Europe’s Crypto Market
Regulatory compliance remains a hot topic in the crypto industry, with the European Union’s Markets in Crypto-Assets (MiCA) regulations set to standardize the landscape. MiCA aims to enhance transparency, protect investors, and integrate crypto into traditional financial systems.
Denisenko believes MiCA is a game-changer: “We’re adapting to increased documentation requirements, which bring clarity. In Europe, we foresee USDC emerging as a potential alternative to USDT, with major platforms like Binance and Kraken reconsidering their support for USDT.”
Brighty’s data offers insights into the spending habits of crypto earners: the average user deposits $3,500 monthly, spends $1,550, and saves $1,950. Interestingly, 18% transfer funds to Revolut, highlighting a close connection between the platforms.
When it comes to deposits, USDT leads with 85%, followed by USDC (5%) and BTC (5%). Savings preferences shift slightly, with 54% opting for euros, 32.6% holding USDT, and 4.4% choosing EURT. Crypto earners typically spend on travel, luxury goods, and remittances.
Expanding Reach and Overcoming Challenges
Brighty targets digital professionals and international freelancers, particularly those outside Europe who need efficient payment processing. Spain, Portugal, and Poland are strongholds, with Spain leveraging influencer marketing for user acquisition. Expansion efforts are underway in LATAM, the GCC, MENA, and Indonesia to identify high-value markets.
While MiCA compliance increases operational costs and regulatory hurdles, it also legitimizes crypto within mainstream finance. Brighty embraces these challenges as opportunities to strengthen its position in the industry.
AI-Powered Fraud Prevention and Future Innovations
Security remains a top priority. Brighty uses AI-driven behavioral analytics to detect fraudulent transactions, preventing suspicious activities like immediate withdrawals post-deposit.
The company has also partnered with the Lithuanian Ministry of Education to combat crypto-related fraud among students. Denisenko explained: “We want to educate young users about financial safety, preventing money laundering risks tied to account sales.”
Beyond security, Brighty is leveraging AI for financial management. Its AI-powered portfolio tool categorizes stocks by sector—IT, Technology, Retail, Consumer Goods—automating rebalancing based on market trends. “Our AI engine selects stocks dynamically, ensuring optimized investment strategies,” Denisenko stated.
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