Revolut plans to issue stablecoin

Revolut, a London-based fintech company that offers cryptocurrency trading services, plans to introduce its stablecoin.

According to private sources the company,  valued at $45 billion earlier this year and was granted a banking license in the United Kingdom in July, is supposedly making good progress on the stablecoin.

A Revolut official when questioned about its plans for the stablecoin stated that the company wants to concentrate on compliance to expand its portfolio of cryptocurrencies and establish itself as a haven for the entire crypto community.

When asked about its intentions for the stablecoin, a Revolut representative stated that the business aims to grow its cryptocurrency portfolio and become a haven for the whole crypto community by focusing on compliance.
The tokens, whose value is derived from an actual asset, usually buy government-issued debt to preserve their value. Consequently, the enterprises obtain a steady stream of interest payments, significantly boosting their profitability. Tether reported a first-half profit of $5.2 billion.

The trend may also have been influenced by the Markets in Crypto Assets (MiCA) regulatory framework, which is early guidance on crypto-tokens coming out of Europe.
Revolut introduced a standalone cryptocurrency exchange in May for experienced traders, after years of enabling the buying and selling of cryptocurrencies via its app

Revolut announced the launch of “Revolut Ramp,” a product that integrates with the MetaMask wallet to simplify the buying crypto assets, in the first quarter of this year.