Revolut Plans to Issue its Own Stablecoin

Reading Time: < 1 minute

According to four sources familiar with the situation, fintech company Revolut plans to launch its own stablecoin.

Two of the sources say that progress has been made in the development of the stablecoin.

When asked about this, a Revolut spokesman stated that the company aims to expand its cryptocurrency offerings while prioritizing compliance, in order to create a secure environment for the entire crypto community.

The stablecoin market, which is currently dominated by Tether’s USDT with a market cap of around $119 billion, has recently seen an increase in new players, including Circle’s USDC and PayPal.

Other players such as Ripple and BitGo have also announced plans to enter the sector.