Revolut Transforms Stablecoins into Working Capital for 65M Users

Revolut has launched a new service enabling users to convert U.S. dollars (USD) and stablecoins at a 1:1 ratio without fees, spreads, or other costs, marking a significant step in simplifying crypto on- and off-ramping for its 65 million customers, according to a Cointelegraph report. The feature, which supports Circle's USDC and Tether's USDT across six blockchains including Ethereum, Solana, and Tron, allows users to transact up to $578,630 every 30 days. Revolut's Head of Product in Crypto, Leonid Bashlykov, emphasized the move eliminates "all anxiety and friction of moving between fiat and crypto," aligning with the company's broader strategy to make stablecoins a seamless part of everyday financial infrastructure.

The offering follows Revolut's recent acquisition of a Markets in Crypto-Assets Regulation (MiCA) license from the Cyprus Securities and Exchange Commission, enabling it to provide regulated crypto services across 30 European Economic Area countries. The company reported holding nearly $35 billion in customer assets in 2024, a 66% increase from the prior year, underscoring growing demand for its crypto-related services. By removing traditional barriers like fees and slippage, Revolut aims to position stablecoins as a practical tool for users, particularly in economies with volatile currencies.

Elbruz Yılmaz, managing partner at venture capital firm Outrun, highlighted the impact of such services on small- and medium-sized businesses (SMBs) in countries like Turkey, where currency devaluation and high SWIFT fees erode value during cross-border transactions. "A clean one-to-one ramp turns stablecoins from a speculative asset into working capital infrastructure," Yılmaz noted, adding that the feature could accelerate adoption in regions with unstable fiat currencies. Revolut's approach aligns with a broader industry trend of fintechs leveraging blockchain to address gaps in traditional financial systems, particularly for unbanked or underbanked populations.

The move also reflects Revolut's competitive positioning in the rapidly expanding stablecoin market, which the U.S. Treasury estimates could grow from $300 billion to $2 trillion by 2028. By offering 1:1 conversions, Revolut not only reduces costs for users but also strengthens its appeal to businesses seeking reliable, low-cost cross-border payment solutions. As regulatory clarity and institutional adoption of stablecoins continue to rise, platforms like Revolut are poised to play a pivotal role in bridging the gap between traditional finance and decentralized ecosystems.