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Revolut now allows users to swap US dollars for stablecoins at a 1:1 rate, removing fees, spreads, and hidden costs. The change aims to make cryptocurrency transactions as straightforward as traditional foreign exchange.
According to Finance Magnates, Revolut’s 65 million users can exchange up to US$578,630 every 30 rolling days between USD and stablecoins, specifically Circle’s USD Coin (USDC) and Tether (USDT).
Supported blockchains include Ethereum, Solana, and Tron.
The feature comes shortly after Revolut secured a Markets in Crypto-Assets (MiCA) license from the Cyprus Securities and Exchange Commission, allowing it to offer regulated crypto services across 30 European Economic Area countries.
Leonid Bashlykov, Revolut’s Head of Product for Crypto, said:
“Ten years ago, Revolut changed how people exchanged currencies, transparent FX, no hidden markups, no extra fees. Now we’re bringing the same approach to crypto. This isn’t about getting a better rate, it’s about eliminating the friction of moving on and off-chain.”
The British neobank reported holding nearly US$35 billion in customer assets in 2024, a 66% increase from the previous year, alongside a rise in monthly transactions.
The 1:1 conversion could benefit SMBs in countries with unstable currencies, providing more predictable and cost-efficient stablecoin transfers for both individuals and companies.
Revolut first entered the crypto space in 2017 and now supports over 200 tokens, including the ability to pay for everyday purchases using digital assets.
Read more on Fintech Schweiz Digital Finance News – FintechNewsCH
