Revolut’s Crypto Ambition: Neobank Nears Stablecoin Launch to Disrupt Traditional Finance
Revolut—the fintech darling that made banking frictionless—is now gunning for stablecoin dominance. Sources confirm the London-based neobank is deep in development of its own dollar-pegged digital asset, a move that could shake up both crypto and legacy finance.
Why this matters: With 30+ million users worldwide, Revolut's entry would instantly become one of the most accessible stablecoins—no crypto exchange account needed. The neobank's existing infrastructure could onboard normies faster than you can say 'fractional reserve banking.'
The regulatory tightrope: Unlike Tether's opaque reserves or Circle's Wall Street flirtations, Revolut's coin will likely tout EU-level transparency. That is, if they can navigate the same financial regulators who still think blockchain is a type of ski binding.
Bottom line: When traditional banks charge $25 for international transfers that take three days, maybe the real stablecoin was the friends we made along the way.
Stablecoins are poised to explode
The Wall Street Journal reported Friday that retail giants Amazon and Walmart, travel company Expedia Group, and other multinational companies are considering issuing their own stablecoins.
Sen. Elizabeth Warren (D-MA) denounced the plans in comments shared with Decrypt, citing concerns that Big Tech companies could create stablecoins “that track your purchases, exploit your data, and squeeze out competitors.”
Momentum for stablecoins has picked up following the U.S. Senate’s passage of the GENIUS Act, bipartisan legislation that establishes a legal framework for issuing stablecoins in the United States. The legislation now heads to the House, and President Donald TRUMP expects to sign it into law by August.
Bank of America CEO Brian Moynihan stated in February that the financial institution WOULD launch a stablecoin if favorable legislation passed. Other major players like JP Morgan, Citigroup, and Wells Fargo are also considering getting in the mix, the Wall Street Journal reported in May.
Industry experts believe the market could soon be flooded with thousands of new stablecoins, creating a rush of competitors for Tether and Circle, the current leaders of the $251 billion sector.
