Fintech Giant Revolut Said to Be Planning Stablecoin
Powered by @unfolded- Revolut plans to expand its cryptocurrency offerings by issuing its own stablecoin while adopting a compliance-first approach to ensure safety for the crypto community.
- The company recently obtained a U.K. banking license and aims to position itself alongside other entrants in the stablecoin sector, such as PayPal, Ripple, and BitGo.
- The stablecoin market is currently dominated by Tether's USDT, with increasing competition from new players, as the sector becomes more lucrative and regulatory guidance emerges from Europe.
- Stablecoins, pegged to real-world assets, generate profits through interest on government-issued debt, with Tether reporting significant earnings in the first half of the year.
https://www.coindesk.com/business/2024/09/18/fintech-giant-revolut-said-to-be-planning-stablecoin/