Revolut Plans to Launch Stablecoins by Opening US Bank

Fintech giant Revolut plans to offer stablecoins through its upcoming US bank. According to the company's US CEO, Cetin Duransoy, customers of the bank, expected to launch next year, will have access to FDIC-insured accounts, multi-currency deposits, stock trading, and cryptocurrency services. Cointelegraph.com reports .

Revolut initially aims to attract retail and business clients in need of international banking services. In March, the company applied for a US national bank charter. This license would allow Revolut to offer insured banking products nationwide under a single federal regulatory framework.

The stablecoin market is currently growing rapidly, reaching $319.5 billion from $247 billion last year, according to DefiLlama data. Revolut has already enabled its customers outside the US to make payments via bank cards in USDT and USDC stablecoins.

Activity in the sector is not limited to Revolut. SoFi Bank has launched the SoFiUSD token on the Ethereum and Solana networks, while MoneyGram introduced the MGUSD stablecoin in partnership with the Stripe platform. Additionally, companies like Nubank and Crypto.com have secured conditional approvals to establish national banks in the US.