Revolut Ready To Launch Its Own Stablecoin

Revolut has now become a colossus in the world of financial technology (or fintech, as they say today) and, to further seal its status, it has reportedly decided to enter the world of cryptocurrencies by launching its own stablecoin.

Revolut is increasingly broadening its horizons and recently obtained a new banking licence, valid in the UK, and was valued at USD 45 billion. In short, it is a company that enjoys good health. As such, it should come as no surprise that it wishes to grow further.

Revolut Aims to Increase Its Offer

Revolut recently stated, to no one's surprise, that it intends to increase its offer of cryptographic services, relaunching its presence in the decentralised finance sector. The company wants to position itself as a benchmark in security and convenience, becoming a beacon for every cryptocurrency enthusiast. To achieve this, it will be committed to regulatory compliance and the security of its infrastructure.

Revolut's app is already among the most widely used in the financial sector and has recently launched an exchange entirely dedicated to cryptocurrencies. The main reason for its success is the simplicity with which it allows anyone to complete cryptocurrency transactions.

The Current Panorama in the Stablecoin Market

As far as the stablecoin segment is concerned, which Revolut has targeted, the current landscape is quite diverse. This does not detract from the fact that there is an undisputed leader, Tether, a company with a capitalisation of USD 119 billion and owner of the stable USDT, pegged to the US dollar. Somewhat aloof, but still in an enviable position of dominance, we then find Circle's currency, USDC. Soon, PayPal, BitGo and Ripple will also appear on this market. All three have stated that they are working on their own stablecoin.

Possible Scenarios

Revolut's move could be a memorable one for the company. Not only would it expand the services it offers, but it would also make it one of the most important players in crypto, precisely because of the number of transactions it is able to facilitate. It is clear that the introduction of a new stable also entails certain business risks. Not only will it be necessary to gain the trust of users (a task that is not impossible given the strength of the brand), but it will also be necessary to face important regulatory challenges. The project could open up new opportunities, both for Revolut and for the entire cryptocurrency ecosystem, or it could cost the company dearly, undermining its solidity and credibility.

In this segment, competition is quite fierce and there are players who have already earned the trust of most of the market over the years. Revolut will have to arm itself with patience and diversify its offer in some way, or it will run the risk of losing ground.

The newsletter from SpazioCrypto, which always keeps you in line, or aligned, with the latest news from the Web3 and cryptocurrency world, will avoid the risk that it could be you who is losing ground and not keeping up with the latest updates.