Fintech giant Revolut is planning to launch its own
stablecoin, Coindesk reported, citing sources familiar with the matter. With
plans to strengthen its crypto-asset offerings, the London-based firm aims to
join PayPal, Ripple, and BitGo in the highly profitable stablecoin market.
Insiders suggest the firm is positioning itself as a
key player in the space, promising both compliance and security for crypto
users. Revolut's ambition to introduce a stablecoin comes as the sector
experiences an influx of new participants.
Stablecoin Market Set for New Entrants
Dominated by Tether's USDT, which has a market cap of approximately $119 billion, the stablecoin space is increasingly attracting fintech and blockchain firms.
Circle's USDC, the second-largest stablecoin, accounts
for roughly a third of Tether's market size. Revolut's venture into this market
follows similar moves by PayPal, which launched its stablecoin
Stablecoin
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Read this Term last year, while
Ripple and BitGo have also disclosed plans to issue tokens soon.
Stablecoins, which are pegged to real-world assets
like government-issued debt, provide a source of steady returns through
interest payments, making them particularly attractive to companies. For
instance, Tether reported a staggering $5.2 billion profit for the first half
of the year.
Revolut has long embraced cryptocurrency, having
introduced crypto trading within its app several years ago. More recently, in
May, the company launched a standalone cryptocurrency exchange targeting
experienced traders, further showcasing its growing footprint in the digital
asset world.
Revolut Embraces Crypto
Revolut's stablecoin ambitions come at a time when
regulatory frameworks, particularly in Europe, are beginning to take shape. The
Markets in Crypto Assets framework is expected to provide clearer
guidance on crypto-tokens, which could further legitimize and encourage growth
within the industry.
With a UK banking license secured in July and a
valuation of $45 billion earlier this year, Revolut aims to scale its
operations. By entering the stablecoin market, the company seeks to diversify
its offerings and capture a share of the growing demand for reliable and
compliant digital currencies.
Stablecoins' profitability, driven by their link to
real-world assets, could be a key revenue stream for the company as it
continues to expand globally. However, competition could intensify as other
major players like PayPal and Ripple enter the space.
Last month, Revolut integrated Ledger Live, a popular
platform for managing digital assets to facilitate crypto asset purchases. In
the agreement, the fintech
Fintech
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Read this Term firm promised easier, faster, and more secure crypto
asset purchases.
The partnership allows Revolut users to purchase
digital assets directly through the Ledger Live app. Besides that, users can
reportedly convert their fiat currency into crypto within the Ledger Live app
without the need for identity checks and multiple verifications.
Fintech giant Revolut is planning to launch its own
stablecoin, Coindesk reported, citing sources familiar with the matter. With
plans to strengthen its crypto-asset offerings, the London-based firm aims to
join PayPal, Ripple, and BitGo in the highly profitable stablecoin market.
Insiders suggest the firm is positioning itself as a
key player in the space, promising both compliance and security for crypto
users. Revolut's ambition to introduce a stablecoin comes as the sector
experiences an influx of new participants.
Stablecoin Market Set for New Entrants
Dominated by Tether's USDT, which has a market cap of approximately $119 billion, the stablecoin space is increasingly attracting fintech and blockchain firms.
Circle's USDC, the second-largest stablecoin, accounts
for roughly a third of Tether's market size. Revolut's venture into this market
follows similar moves by PayPal, which launched its stablecoin
Stablecoin
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Read this Term last year, while
Ripple and BitGo have also disclosed plans to issue tokens soon.
Stablecoins, which are pegged to real-world assets
like government-issued debt, provide a source of steady returns through
interest payments, making them particularly attractive to companies. For
instance, Tether reported a staggering $5.2 billion profit for the first half
of the year.
Revolut has long embraced cryptocurrency, having
introduced crypto trading within its app several years ago. More recently, in
May, the company launched a standalone cryptocurrency exchange targeting
experienced traders, further showcasing its growing footprint in the digital
asset world.
Revolut Embraces Crypto
Revolut's stablecoin ambitions come at a time when
regulatory frameworks, particularly in Europe, are beginning to take shape. The
Markets in Crypto Assets framework is expected to provide clearer
guidance on crypto-tokens, which could further legitimize and encourage growth
within the industry.
With a UK banking license secured in July and a
valuation of $45 billion earlier this year, Revolut aims to scale its
operations. By entering the stablecoin market, the company seeks to diversify
its offerings and capture a share of the growing demand for reliable and
compliant digital currencies.
Stablecoins' profitability, driven by their link to
real-world assets, could be a key revenue stream for the company as it
continues to expand globally. However, competition could intensify as other
major players like PayPal and Ripple enter the space.
Last month, Revolut integrated Ledger Live, a popular
platform for managing digital assets to facilitate crypto asset purchases. In
the agreement, the fintech
Fintech
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Read this Term firm promised easier, faster, and more secure crypto
asset purchases.
The partnership allows Revolut users to purchase
digital assets directly through the Ledger Live app. Besides that, users can
reportedly convert their fiat currency into crypto within the Ledger Live app
without the need for identity checks and multiple verifications.
