New Revolut Stablecoin: What We Know So Far

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Revolut's Plans
  2. Current State of the Stablecoin Market
  3. Regulatory Changes and Their Impact


    4. London-based fintech bank Revolut is reportedly planning to release its stablecoin pegged to fiat currency. The timeline and specifics of the launch remain unknown, as does whether the stablecoin will be pegged to the euro or the US dollar.

    Revolut's Plans

    Revolut, which has supported digital asset trading since 2017, is considering launching its stablecoin. The platform recently launched a crypto exchange for professional investors in the UK and obtained a banking license in June, as part of its strategy to expand its crypto operations.

    Current State of the Stablecoin Market

    As of September 18, the stablecoin market was valued at $171 billion, making it one of the most sought-after sectors after Bitcoin and the Ethereum ecosystem. Issuers of stablecoins often accumulate reserves filled with Treasury bills and bonds, earning interest and yield in the process. For example, the largest stablecoin company, Tether, earned $5.2 billion in profit in the first half of the year.

    Regulatory Changes and Their Impact

    The promise of yield and anticipated regulatory changes in the US have further fueled interest in stablecoins. Companies like Ripple have also announced their stablecoin plans, and providers like BitGo and PayPal have introduced their fiat-tied tokens. The European Union has implemented landmark legislation for the crypto-assets market, allowing issuers like Circle to offer their stablecoins in the region. In the US, lawmakers like Patrick McHenry and Maxine Waters have made significant progress towards establishing a comprehensive regulatory framework for stablecoins.

    The launch of a new stablecoin by Revolut could significantly change the market. As regulators formulate new rules, interest in stablecoins continues to grow, providing new opportunities for market participants.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Arca Desktop App Now Open to Public for AI Session Monetization

The Arca desktop app has launched to the public, allowing users to monetize their AI session data.

user avatarJacob Williams

Exodus Reports Third-Quarter Revenue Growth Amid Net Loss

Exodus reported a 7% revenue increase in Q3, reaching $325 million, but faced a net loss of $83 million, highlighting rising operational costs.

user avatarZainab Kamara

eToro Reports Decline in Third-Quarter Net Income Amid Growing Funded Accounts

eToro reports a significant decline in third-quarter net income to approximately $15 million, down from $57 million last year, despite an 18% growth in funded accounts.

user avatarSon Min-ho

Bitdeer Achieves Record Revenue but Faces Major Losses

Bitdeer reported record revenue of $320.7 million for Q3 2023, an 89% increase year-over-year, but faced a net loss of $125.5 million.

user avatarAyman Ben Youssef

Bitcoin May Benefit from Greater Regulatory Clarity

Bitcoin may benefit from a more predictable US regulatory environment as the SEC shows interest in blockchain-based financial infrastructure.

user avatarKofi Adjeman

SEC Reports Significant Decline in Enforcement Actions

The US Securities and Exchange Commission (SEC) has reported a significant decline in enforcement actions, marking the lowest level since 1991, under the Trump administration.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.