Neobank Revolut has introduced a major new feature, offering 1:1 conversion between the US Dollar (USD) and top stablecoins USDC and USDT across six major blockchains (including Ethereum, Solana, and Tron).
The offering allows Revolut’s 65 million users to exchange up to $578,630 every 30 days with no fees or spreads. Revolut’s Head of Product in Crypto, Leonid Bashlykov, emphasized that the goal is to "completely eliminating the pain of going on and offchain," by covering the spread internally to guarantee the 1:1 rate, provided the stablecoins maintain their peg.
Impact and Strategic Context:
- Eliminating Friction: Bashlykov stated the move removes "all anxiety and friction of moving between fiat and crypto," turning stablecoins from a speculative asset into essential working capital infrastructure.
- Support for SMBs: The change is expected to be particularly impactful for small to medium-sized businesses (SMBs) in economies facing currency volatility, such as Turkey. It helps SMBs avoid considerable loss of value from local currency conversion, SWIFT fees, and slippage when moving funds across borders.
- Regulatory Readiness: This product launch follows Revolut securing a MiCA license from the Cyprus Securities and Exchange Commission, which permits it to offer regulated crypto services in 30 European Economic Area countries. Revolut currently supports over 200 tokens and held nearly $35 billion in customer assets in 2024.
Industry Trend:
Revolut's move is part of a broader trend of major financial players integrating stablecoins and blockchain technology into traditional payments:
- Western Union recently announced plans to roll out a stablecoin settlement system (USDPT) on the Solana blockchain in the first half of 2026.
- Zelle's parent company and MoneyGram have also announced plans to launch stablecoin products for faster cross-border payments.
- SWIFT (Society for Worldwide Interbank Financial Telecommunication) is also developing a blockchain payment settlement platform for stablecoins and tokenized assets.
October 2025, Cryptoniteuae