Revolut now allows users to swap U.S. dollars for stablecoins at a 1:1 rate, completely removing fees, spreads, and hidden costs. The move aims to make cryptocurrency transactions as seamless as traditional foreign exchange transactions.

The new feature allows Revolut’s 65 million users to exchange up to $578,630 every 30 rolling days between USD and stablecoins — specifically, Circle’s USD Coin (USDC) and Tether (USDT). Supported blockchains include Ethereum, Solana, and Tron, among others.

Expansion Follows Regulatory Milestone

The feature arrives just a week after Revolut secured a Markets in Crypto-Assets Regulation (MiCA) license from the Cyprus Securities and Exchange Commission. The authorization enables Revolut to offer regulated crypto services across 30 European Economic Area countries — a crucial step in aligning its crypto operations with EU oversight.

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“Ten years ago, Revolut changed how people exchanged currencies, transparent FX, no hidden markups, no crazy fees, commented Leonid Bashlykov, the Head of Product for Crypto at Revolut. “Just simplicity and ease. Now we’re bringing the same revolution to crypto.” “This isn’t about getting a better rate — it’s about completely eliminating the pain of going on and off-chain.”

The British-based neobank reported holding nearly $35 billion in customer assets in 2024, a 66% increase from the previous year, alongside a significant rise in monthly transactions.

The new offering could be particularly beneficial for small and medium-sized businesses in economies dealing with unstable currencies. By providing direct 1:1 conversions, Revolut aims to make stablecoin transfers more predictable and cost-efficient for both individuals and businesses.

Boost for Businesses in Volatile Markets

Revolut first entered the crypto space in 2017 and now supports over 200 tokens, along with the ability to pay for everyday purchases using digital assets.

The company’s new 1:1 conversion service extends its original promise of transparent and simple foreign exchange — this time, bridging the gap between fiat and blockchain finance.

Expect ongoing uodates as this story evolves.

Source: Finance Magnates