Revolut now allows users to swap U.S. dollars for
stablecoins at a 1:1 rate, completely removing fees, spreads, and hidden costs.
The move aims to make cryptocurrency transactions as seamless as traditional foreign exchange transactions.
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The new feature allows Revolut’s 65 million users to exchange up to $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, among others.
Expansion Follows Regulatory Milestone
The feature arrives just a week after Revolut secured a Markets in Crypto-Assets Regulation (MiCA) license from the Cyprus Securities and Exchange Commission. The authorization enables Revolut to offer regulated
crypto services across 30 European Economic Area countries — a crucial step in
aligning its crypto operations with EU oversight.
“Ten years ago, Revolut changed how people exchanged
currencies, transparent FX, no hidden markups, no crazy fees, commented Leonid
Bashlykov, the Head of Product for Crypto at Revolut. “Just simplicity and ease.
Now we’re bringing the same revolution to crypto.” “This isn’t about getting a better rate — it’s about
completely eliminating the pain of going on and off-chain.”
The British-based neobank reported holding nearly $35
billion in customer assets in 2024, a 66% increase from the previous year,
alongside a significant rise in monthly transactions.
The new offering could be particularly beneficial for
small and medium-sized businesses in economies dealing with unstable
currencies. By providing direct 1:1 conversions, Revolut aims to
make stablecoin transfers more predictable and cost-efficient for both
individuals and businesses.
Boost for Businesses in Volatile Markets
Revolut first entered the crypto space in 2017 and now
supports over 200 tokens, along with the ability to pay for everyday purchases
using digital assets.
The company’s new 1:1 conversion service extends its
original promise of transparent and simple foreign exchange — this time,
bridging the gap between fiat and blockchain finance.
Recently, Revolut received regulatory approval to offer cryptocurrency services across the European Union, expanding its presence in regulated financial markets. The Cyprus Securities and Exchange Commission granted the company a Markets in Crypto Assets license, enabling it to sell digital tokens in all 30 countries within the European Economic Area.
The approval marks another milestone in Revolut’s global regulatory expansion, coming just three days after it secured authorization from Mexican regulators to operate as a licensed bank, allowing it to accept deposits and issue loans.
This article was written by Jared Kirui at www.financemagnates.com.
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