You can now trade synthetic exposure to Revolut shares on a decentralized exchange.

PancakeSwap has listed $CREV, a BEP-20 token on BNB Chain that offers tokenized economic exposure to pre-IPO equity in the British fintech giant. The token, issued by Swiss-based Colb Finance, launched on May 28 with a net asset value of $2,139 per token and a total asset value of roughly $88 million across 41,185 tokens in circulation.

What $CREV actually is (and isn’t)

$CREV does not give holders direct ownership of Revolut shares. Instead, it’s structured as a Swiss-regulated certificate that provides economic exposure to the underlying equity. You get the price upside (or downside) tied to Revolut’s valuation, but you’re not technically a shareholder with voting rights or a seat at the cap table.

The minimum subscription is $25,000 in stablecoins, with a 2.5% subscription fee. There are no management or performance fees attached. It’s aimed at professional and qualified investors who want private market exposure without the traditional gatekeeping of venture capital or secondary share platforms.

Each token is backed 1:1 by the economic rights of the equity it represents, according to Colb Finance’s structure.

The bigger picture: private equity goes on-chain

$CREV isn’t Colb Finance’s first rodeo on PancakeSwap. The firm previously launched $CSPX, a similar tokenized certificate offering pre-IPO exposure to SpaceX shares.

What this means for investors

A $25,000 minimum and a 2.5% entry fee means this is not the kind of token most retail traders will stumble into. The qualified investor requirement adds another filter.

There are real risks to consider. The 1:1 backing claim relies entirely on Colb Finance’s custody and legal structure. If the issuer faces regulatory challenges, or if the underlying equity position is impaired, token holders bear that risk. There’s also the question of what happens to $CREV if Revolut actually does IPO. The conversion mechanism, whether tokens are redeemed for cash at IPO price or continue trading, is a detail that qualified investors should examine closely before committing capital.