- How Has Revolut Expanded Its Crypto Portfolio?
- What New Initiatives Has Revolut Launched Recently?
- Revolut’s Stablecoin Plans
Revolut, known for its crypto-friendly services, has announced plans to enter the stablecoin sector. The company’s stablecoin is expected to be linked to the British pound.
How Has Revolut Expanded Its Crypto Portfolio?
Since its inception in 2015 as a money transfer service, Revolut progressively broadened its cryptocurrency offerings. Starting in 2017, the platform initially allowed trading for a limited selection of cryptocurrencies, including Bitcoin and Ethereum. Over the years, Revolut has grown its crypto offerings to feature over 175 different digital currencies, incorporating popular options like Dogecoin and Shiba Inu.
What New Initiatives Has Revolut Launched Recently?
In May 2024, Revolut introduced a standalone exchange platform called Revolut X for UK customers. This followed the launch of Revolut Ramp in March 2024, developed in partnership with ConsenSys, allowing users to purchase cryptocurrencies directly from Web3 wallets such as MetaMask and Trust Wallet. In July 2024, Revolut secured a UK banking license after a lengthy three-year process.
Revolut’s Stablecoin Plans
Revolut’s decision to enter the stablecoin market follows on from its newly obtained banking license. According to CoinDesk, the company is positioning itself as a secure and trustworthy choice for cryptocurrency users by emphasizing compliance and safety. The stablecoin market is witnessing heightened activity, with firms like BitGo, Ripple, and PayPal launching their own stablecoin products. Revolut’s entry promises to intensify competition and offer users more reliable and diverse options.
Revolut’s launch of a stablecoin marks a significant step in its mission to provide secure and accessible crypto asset services. By focusing on compliance and expanding its service offerings, Revolut aims to offer greater options for users while stimulating healthy competition within the crypto ecosystem.
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