Revolut now permits customers to swap U.S. {dollars} for
stablecoins at a 1:1 charge, fully eradicating charges, spreads, and hidden prices.
The transfer goals to make cryptocurrency transactions as seamless as conventional overseas alternate transactions.
Uncover how neo-banks turn out to be wealthtech in London on the fmls25
The brand new characteristic permits Revolut’s 65 million customers to alternate as much as $578,630 each 30 rolling days between USD and stablecoins – particularly, Circle’s USD Coin (USDC) and Tether (USDT). Supported blockchains
embrace Ethereum, Solana, and Tron, amongst others.
Enlargement Follows Regulatory Milestone
The characteristic arrives only a week after Revolut secured a Markets in Crypto-Belongings Regulation (MiCA) license from the Cyprus Securities and Alternate Fee. The authorization allows Revolut to supply regulated
crypto providers throughout 30 European Financial Space nations – an important step in
aligning its crypto operations with EU oversight.
“Ten years in the past, Revolut modified how individuals exchanged
currencies, clear FX, no hidden markups, no loopy charges, commented Leonid
Bashlykov, the Head of Product for Crypto at Revolut. “Simply simplicity and ease.
Now we’re bringing the identical revolution to crypto,” he continued. “This isn’t about getting a greater charge – it’s about
fully eliminating the ache of occurring and off-chain.”
The British-based neobank reported holding practically $35
billion in buyer property in 2024, a 66% enhance from the earlier yr,
alongside a major rise in month-to-month transactions.
The brand new providing could possibly be significantly useful for
small and medium-sized companies in economies coping with unstable
currencies. By offering direct 1:1 conversions, Revolut goals to
make stablecoin transfers extra predictable and cost-efficient for each
people and companies.
Increase for Companies in Unstable Markets
Revolut first entered the crypto area in 2017 and now
helps over 200 tokens, together with the flexibility to pay for on a regular basis purchases
utilizing digital property.
The corporate’s new 1:1 conversion service extends its
unique promise of clear and easy overseas alternate – this time,
bridging the hole between fiat and blockchain finance.
Just lately, Revolut acquired regulatory approval to supply cryptocurrency providers throughout the European Union, increasing its presence in regulated monetary markets. The Cyprus Securities and Alternate Fee granted the corporate a Markets in Crypto Belongings license, enabling it to promote digital tokens in all 30 nations throughout the European Financial Space.
The approval marks one other milestone in Revolut’s world regulatory growth, coming simply three days after it secured authorization from Mexican regulators to function as a licensed financial institution, permitting it to just accept deposits and problem loans.
This text was written by Jared Kirui at www.financemagnates.com.
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