Robinhood and Revolut Considering Launch of its Own Stablecoin

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According to a report from Bloomberg, fintech giant Robinhood is considering launching a stablecoin. If this happens, it would follow other traditional finance firms such as PayPal that have already entered the profitable stablecoin market with a US-based token last summer.

However, a spokesperson from Robinhood did not confirm any immediate plans for a stablecoin launch. The company currently offers trading of various digital assets on its platform, including the USDC stablecoin from Circle.

In addition, Bloomberg reported that UK-based Revolut is also considering launching a stablecoin, as previously reported by CoinDesk on September 18.

Last week, the crypto-friendly bank revealed plans for a retail wealth management app that would allow users to trade cryptocurrencies along with other asset classes.

A spokesperson for Revolut mentioned that the company plans to continue expanding its crypto offerings, but did not specifically mention a stablecoin.