Revolut plans to launch own stablecoin

London-based fintech company Revolut is reportedly in advanced stages of developing its own stablecoin. With a UK banking license secured and a valuation of $45 billion, Revolut aims to broaden its cryptocurrency services. A company spokesman highlighted their mission to become the safest and most accessible provider of crypto asset services, emphasizing a compliance-first approach. The stablecoin sector, led by Tether's USDT and Circle’s USDC, is highly profitable, making it attractive for new entrants like PayPal, Ripple, and BitGo.

Revolut has facilitated crypto trading on its app for years and recently launched a standalone exchange for experienced traders. The move aligns with emerging European regulations on crypto-tokens, providing further momentum for Revolut’s stablecoin ambitions.

Source: CoinDesk