The British fintech is reportedly in the advanced stages of developing a stablecoin, thus expanding its services in the digital asset sector.
According to Coindesk, Revolut is reportedly in the advanced stages of developing its own stablecoin.
A Revolut spokesperson has confirmed that the company is working to expand its digital asset services, adopting a compliance-focused approach to position itself as a secure leader in the sector. In an email, the spokesperson stated:
“Crypto is a big part of our belief in banking without borders and we have a clear mission to become the safest and most accessible provider of crypto asset services.”
The stablecoin market is currently dominated by Tether’s USDT, with a market capitalization of approximately $119 billion. Circle’s USDC is the second-largest token in the market, while companies such as PayPal have already launched their own stablecoins.
