Revolut Quietly Advances Stablecoin Plans
Hey Digital Banking Fanatic!
The stablecoin conversation isn’t going away... and in FinTech, it’s becoming harder to ignore. Revolut hasn’t shelved its plans. In fact, the neobank is now moving forward with advanced efforts to issue its stablecoin.
The neobank has been working on the project since at least early 2024, according to people familiar with the matter. It’s seen as a step to expand the company’s crypto footprint, which already includes Revolut X, a centralized exchange rolled out last year across the EU.
Back in December, sources told Sifted that the stablecoin effort had been delayed by internal red tape and regulatory uncertainty. Now, other sources say Revolut remains committed and is in active discussions with at least one crypto-native partner to help bring the stablecoin to market.
Meanwhile, stablecoins continue to gain traction beyond crypto circles. Last month, U.S. banking giants, including J.P. Morgan, Bank of America, Citi, and Wells Fargo, entered early discussions about developing a joint USD stablecoin, alongside payments networks like Zelle and The Clearing House.
More recently, the giant retailers Walmart and Amazon have also begun exploring USD-backed stablecoins of their own, reportedly to cut banking fees and simplify transactions. And just last week, Coinbase rolled out a tool that allows merchants to accept stablecoin payments without handling crypto directly, already live on Shopify.
Revolut has not officially confirmed the stablecoin project. But in a statement to CoinDesk, a company spokesperson said: “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.”
Will Revolut move ahead before the year ends, or wait until 2026?
Read all the other Digital Banking industry news below 👇 and I'll be back with more tomorrow!
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