Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Revolut to Launch Its Own Stablecoin as It Expands Crypto Services

Revolut to Launch Its Own Stablecoin as It Expands Crypto Services

Cryptodnes2024/09/18 15:12
By:Cryptodnes

Fintech giant Revolut is planning to launch its own stablecoin. Sources indicate that Revolut, which recently secured a U.K. banking license and was valued at $45 billion earlier this year, is progressing well with this initiative.

A Revolut spokesperson confirmed the company’s goal to enhance its crypto services while emphasizing a commitment to regulatory compliance and safety. The firm aims to be a secure and accessible platform for cryptocurrency enthusiasts.

The stablecoin market, currently dominated by Tether’s USDT with a $119 billion market cap, is expanding with new competitors. Circle’s USDC is the second-largest, and other notable entries include PayPal’s new stablecoin and upcoming tokens from Ripple and BitGo.

Stablecoins, pegged to real-world assets, often invest in government debt, generating significant profits. Tether, for instance, reported a $5.2 billion profit in the first half of the year. The new European crypto regulations, known as the MiCA framework, are likely influencing this trend.

READ MORE:
Visa Expands Crypto Payments Network with New Partnership

Revolut, which has been facilitating crypto transactions through its app and recently launched a dedicated cryptocurrency exchange, continues to expand its offerings in the digital asset space.

Source

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!