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

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

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.