Revolut is reportedly looking to launch its own stablecoin, according to Coindesk.
This move is part of their strategy to expand their crypto-offerings and compete with others in the lucrative stablecoin market, such as PayPal, Ripple, and BitGo.
Sources have revealed that Revolut is positioning itself as a major player in the industry and is committed to ensuring compliance and security for users of its crypto services.
The company’s entrance into the stablecoin market aligns with the recent rise in interest and involvement of various fintech and blockchain companies in this sector.
At present, the stablecoin market is mostly dominated by Tether’s USDT, which boasts a market cap of around $119 billion.
