Main inage: Fintech giant Revolut is said to be planning to issue a stablecoin of its own. (A. Aleksandravicius/Shutterstock)
Revolut, the London-based fintech company with Ukrainian roots, aims to expand its presence in the cryptocurrency industry by launching its own stablecoin. The company received a banking license in the UK in July and was valued at $45 billion earlier this year. According to several sources from CoinDesk, Revolut has made significant progress in developing the stablecoin.
In response to inquiries about its stablecoin plans, a Revolut representative stated that the company seeks to broaden its cryptocurrency offerings, adopting a compliance-focused approach to become a secure haven for the entire crypto community.
"Cryptocurrency is a crucial part of our belief in borderless banking, and we have a clear mission to become the safest and most accessible provider of cryptocurrency services," said a spokesperson in a press email.
Revolut, which snagged a U.K. banking license in recent months, would join other entrants to the stablecoin sector including PayPal, Ripple and BitGo.
