TLDR
- Revolut introduces fee-free 1:1 conversions between USD and stablecoins for its 65 million global users
- Users can exchange up to $578,630 monthly without spreads or hidden costs on USDC and USDT
- The service operates across six blockchains including Ethereum, Solana, and Tron networks
- Revolut secured MiCA regulatory approval to offer crypto services in 30 European countries
- Major payment firms like Western Union and Zelle are launching similar stablecoin platforms
Revolut has introduced a zero-cost conversion service between USD and stablecoins for its global user base. The digital bank now offers exact 1:1 exchange rates without any fees or spreads.
The platform allows customers to convert up to $578,630 every 30 days. This applies to both USDC and USDT stablecoin transactions.
Leonid Bashlykov serves as Revolut’s head of crypto products. He shared on LinkedIn that the feature removes all barriers when moving between traditional money and digital assets.
The service works across six different blockchain networks. These include Ethereum, Solana, and Tron among others.
Revolut handles all conversion costs internally to keep the 1:1 rate. This guarantee holds as long as stablecoins maintain their peg to the dollar.
The company reported $35 billion in customer assets during 2024. This represents a 66% increase from the previous year.
Regulatory Approval Expands European Operations
Revolut received a Markets in Crypto-Assets license from Cyprus financial regulators. The approval grants permission to operate regulated crypto services throughout 30 European Economic Area nations.
The fintech company started offering crypto trading in 2017. Today the platform supports over 200 different digital tokens for buying, selling, and spending.
Users can pay with crypto at regular stores through Revolut’s payment features. The company continues expanding its cryptocurrency product lineup.
Elbruz Yılmaz is a managing partner at Outrun venture capital firm. He explained how the service benefits small and medium businesses in developing economies.
Benefits for International Business Transactions
Companies in countries with unstable currencies face high costs when converting to USD. Turkey serves as a prime example of these challenges.
Traditional international transfers through SWIFT networks add extra fees. Currency exchange slippage creates more losses during cross-border payments.
Direct stablecoin conversions at 1:1 rates eliminate these problems. Businesses gain faster payment cycles and better management of working capital.
The feature turns stablecoins into practical infrastructure for daily operations. Companies avoid the typical costs associated with foreign exchange transactions.
Payment Industry Embraces Stablecoin Technology
Western Union announced plans for a stablecoin settlement system on Solana blockchain. The money transfer giant expects to launch its US Dollar Payment Token by mid-2026.
The company will distribute USDPT through cryptocurrency exchange partners. Western Union is building a Digital Asset Network to support the infrastructure.
Zelle’s parent organization revealed it will create stablecoins for cross-border transfers. MoneyGram integrated USDC wallet functionality in Colombia through its mobile application in September.
SWIFT is developing a blockchain-based payment settlement platform. The global banking network will handle stablecoin and tokenized asset movements.
Revolut’s monthly transaction volume grew substantially throughout 2024. The increases reflect higher adoption rates for both standard banking and crypto services on the platform.
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